Virginia Code 58.1-407: How dividends allocated
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Dividends received to the extent included in Virginia taxable income are allocable to the state of commercial domicile of the taxpaying corporation.
Terms Used In Virginia Code 58.1-407
- 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
Code 1950, § 58-151.037; 1971, Ex. Sess., c. 171; 1981, c. 402; 1984, c. 675.