Virginia Code 58.1-2663: How taxes assessed, collected and paid.
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The taxes provided for by this article shall be assessed, determined and collected by the State Corporation Commission in the same manner and on such same dates as other state taxes on the same subjects of taxation are assessed, determined and collected under this chapter. Such taxes shall be paid into the state treasury for use in accordance with § 58.1-2665.
Terms Used In Virginia Code 58.1-2663
- Commission: means the State Corporation Commission which is hereby designated pursuant to Article X, § 2 of the Constitution of Virginia as the central state agency responsible for the assessment of the real and personal property of all public service corporations, except those public service corporations for which the Department of Taxation is so designated, upon which the Commonwealth levies a license tax measured by the gross receipts of such corporations. See Virginia Code 58.1-2600
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- State: when applied to a part of the United States, includes any of the 50 states, the District of Columbia, the Commonwealth of Puerto Rico, Guam, the Northern Mariana Islands, and the United States Virgin Islands. See Virginia Code 1-245
The regulatory revenue tax on the Virginia Pilots’ Association shall be assessed, determined and collected by the Commission in the same manner in which the license taxes provided in Article 2 (§ 58.1-2620 et seq.) are assessed and collected on certain public utility companies.
Code 1950, §§ 58-667, 58-668; 1983, c. 570; 1984, c. 675.