{"law_id":"796014","section_number":"13.1-1120","catch_line":"Income and property taxes","history":"1992, c. 574.","order_by":null,"metadata":false,"court_decisions":{},"official_url":"http:\/\/law.lis.virginia.gov\/vacode\/13.1-1120\/","refers_to":[{"id":"769088","section_number":"58.1-300","catch_line":"Incomes not subject to local taxation","url":"\/58.1-300\/"},{"id":"765242","section_number":"58.1-301","catch_line":"Conformity to Internal Revenue Code","url":"\/58.1-301\/"}],"url":"\/13.1-1120\/","token":"13.1\/13\/13.1-1120","structure":{"1":{"id":"811","name":"Virginia Professional Limited Liability Company Act","identifier":"13","label":"chapter","url":"\/13.1\/13\/"},"2":{"id":"43","name":"Corporations","identifier":"13.1","label":"title","url":"\/13.1\/"}},"referred_to_by":false,"edition_id":"11","section_id":"796014","structure_id":"811","full_text":"All professional limited liability companies organized or qualifying under the provisions of this chapter shall be treated for income tax purposes under the provisions of Chapter 3 (\u00a7 58.1-300 et seq.) of Title 58.1 in the manner determined under \u00a7 58.1-301, and property owned by professional limited liability companies shall be taxed in the actual form in which it may exist and not as capital.","text":{"0":{"id":"2569409","text":"All professional limited liability companies organized or qualifying under the provisions of this chapter shall be treated for income tax purposes under the provisions of Chapter 3 (\u00a7 58.1-300 et seq.) of Title 58.1 in the manner determined under \u00a7 58.1-301, and property owned by professional limited liability companies shall be taxed in the actual form in which it may exist and not as capital.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"ancestry":{"1":{"id":"811","name":"Virginia Professional Limited Liability Company Act","identifier":"13","label":"chapter","url":"\/13.1\/13\/"},"2":{"id":"43","name":"Corporations","identifier":"13.1","label":"title","url":"\/13.1\/"}},"structure_contents":{"0":{"id":"783590","structure_id":"811","section_number":"13.1-1100","catch_line":"Reservation of power to amend or repeal","url":"\/13.1-1100\/","token":"13.1\/13\/13.1-1100"},"1":{"id":"780100","structure_id":"811","section_number":"13.1-1101","catch_line":"Legislative purpose","url":"\/13.1-1101\/","token":"13.1\/13\/13.1-1101"},"2":{"id":"785724","structure_id":"811","section_number":"13.1-1101.1","catch_line":"Practice of certain professions by limited liability companies","url":"\/13.1-1101.1\/","token":"13.1\/13\/13.1-1101.1"},"3":{"id":"789604","structure_id":"811","section_number":"13.1-1102","catch_line":"Definitions","url":"\/13.1-1102\/","token":"13.1\/13\/13.1-1102"},"4":{"id":"782256","structure_id":"811","section_number":"13.1-1103","catch_line":"Who may become a member","url":"\/13.1-1103\/","token":"13.1\/13\/13.1-1103"},"5":{"id":"787745","structure_id":"811","section_number":"13.1-1104","catch_line":"Use of initials \"P.L.C.,\" \"PLC,\" \"P.L.L.C.\" or \"PLLC\" in company name","url":"\/13.1-1104\/","token":"13.1\/13\/13.1-1104"},"6":{"id":"788166","structure_id":"811","section_number":"13.1-1105","catch_line":"Certificate of authority for foreign professional limited liability company","url":"\/13.1-1105\/","token":"13.1\/13\/13.1-1105"},"7":{"id":"788798","structure_id":"811","section_number":"13.1-1106","catch_line":"Merger with foreign professional limited liability company or foreign professional corporation","url":"\/13.1-1106\/","token":"13.1\/13\/13.1-1106"},"8":{"id":"788687","structure_id":"811","section_number":"13.1-1107","catch_line":"How limited liability company may render professional services; nonprofessional employees and agents; members and managers need not be employees, etc","url":"\/13.1-1107\/","token":"13.1\/13\/13.1-1107"},"9":{"id":"792236","structure_id":"811","section_number":"13.1-1108","catch_line":"Professional law limited liability company may qualify as executor, administrator or in other fiduciary capacity","url":"\/13.1-1108\/","token":"13.1\/13\/13.1-1108"},"10":{"id":"775045","structure_id":"811","section_number":"13.1-1109","catch_line":"Professional relationships not affected; liability for debts, etc., of limited liability company, its members, managers, employees, and agents","url":"\/13.1-1109\/","token":"13.1\/13\/13.1-1109"},"11":{"id":"771178","structure_id":"811","section_number":"13.1-1110","catch_line":"Professional limited liability company not to engage in other business; investment of funds","url":"\/13.1-1110\/","token":"13.1\/13\/13.1-1110"},"12":{"id":"776033","structure_id":"811","section_number":"13.1-1111","catch_line":"Qualifications of members and managers; special provisions for limited liability companies rendering service of architects, professional engineers, land surveyors and landscape architects, and using the title of certified interior designers","url":"\/13.1-1111\/","token":"13.1\/13\/13.1-1111"},"13":{"id":"793882","structure_id":"811","section_number":"13.1-1112","catch_line":"Special provision for limited liability company engaged in practice of accounting","url":"\/13.1-1112\/","token":"13.1\/13\/13.1-1112"},"14":{"id":"776721","structure_id":"811","section_number":"13.1-1113","catch_line":"Registration certificate required for limited liability company engaged in practice of law","url":"\/13.1-1113\/","token":"13.1\/13\/13.1-1113"},"15":{"id":"785967","structure_id":"811","section_number":"13.1-1114","catch_line":"Repealed","url":"\/13.1-1114\/","token":"13.1\/13\/13.1-1114"},"16":{"id":"768782","structure_id":"811","section_number":"13.1-1115","catch_line":"Transfer of membership interests","url":"\/13.1-1115\/","token":"13.1\/13\/13.1-1115"},"17":{"id":"775958","structure_id":"811","section_number":"13.1-1116","catch_line":"Disqualification of member, manager, agent or employee","url":"\/13.1-1116\/","token":"13.1\/13\/13.1-1116"},"18":{"id":"785509","structure_id":"811","section_number":"13.1-1117","catch_line":"Conversion into nonprofessional company; disposition of membership interests of deceased or disqualified members","url":"\/13.1-1117\/","token":"13.1\/13\/13.1-1117"},"19":{"id":"780844","structure_id":"811","section_number":"13.1-1118","catch_line":"Management","url":"\/13.1-1118\/","token":"13.1\/13\/13.1-1118"},"20":{"id":"765605","structure_id":"811","section_number":"13.1-1119","catch_line":"Repealed","url":"\/13.1-1119\/","token":"13.1\/13\/13.1-1119"},"21":{"id":"796014","structure_id":"811","section_number":"13.1-1120","catch_line":"Income and property taxes","url":"\/13.1-1120\/","token":"13.1\/13\/13.1-1120"},"22":{"id":"765918","structure_id":"811","section_number":"13.1-1121","catch_line":"Merger","url":"\/13.1-1121\/","token":"13.1\/13\/13.1-1121"},"23":{"id":"782620","structure_id":"811","section_number":"13.1-1122","catch_line":"Application of Chapter 12 of this title","url":"\/13.1-1122\/","token":"13.1\/13\/13.1-1122"},"24":{"id":"781107","structure_id":"811","section_number":"13.1-1123","catch_line":"Coordination with other provisions of Virginia Code","url":"\/13.1-1123\/","token":"13.1\/13\/13.1-1123"}},"previous_section":{"id":"765605","structure_id":"811","section_number":"13.1-1119","catch_line":"Repealed","url":"\/13.1-1119\/","token":"13.1\/13\/13.1-1119"},"next_section":{"id":"765918","structure_id":"811","section_number":"13.1-1121","catch_line":"Merger","url":"\/13.1-1121\/","token":"13.1\/13\/13.1-1121"},"references":false,"formats":{"txt":"\/13.1-1120.txt","json":"\/13.1-1120.json","xml":"\/13.1-1120.xml"},"dublin_core":{"Title":"Income and property taxes","Type":"Text","Format":"text\/html","Identifier":"\u00a7 13.1-1120","Relation":"Code of Virginia"},"plain_text":"                                 CODE OF VIRGINIA\n\nINCOME AND PROPERTY TAXES (\u00a7 13.1-1120)\n\nAll professional limited liability companies organized or qualifying under the\nprovisions of this chapter shall be treated for income tax purposes under the\nprovisions of Chapter 3 (\u00a7 58.1-300 et seq.) of Title 58.1 in the manner\ndetermined under \u00a7 58.1-301, and property owned by professional limited\nliability companies shall be taxed in the actual form in which it may exist and\nnot as capital.\n\nHISTORY: 1992, c. 574."}