Section 58.1-1100 shall not be construed to apply (i) to any profession which the Commonwealth regulates by law, (ii) to industrial development corporations organized pursuant to the terms of §§ 13.1-981 through 13.1-998, or (iii) to the business of farming, which includes propagating, growing, selling and planting, as an incident to the sale, of evergreens, shade trees, shrubs and all other nursery products, ornamental and otherwise, grown by the seller. Property used or employed in such exempt activities shall be taxable in the actual form in which it exists and not as intangible personal property.

History

Code 1950, § 58-413; 1956, c. 241; 1962, c. 131; 1982, c. 633; 1984, c. 675.