77908458.1-2620Virginia Decodedhttps://vacode.org2016TaxationTaxes Administered By Other AgenciesTaxation Of Public Service CorporationsLicense Tax On Telegraph, Telephone, Water, Heat, Light, Power And Pipeline CompaniesBasis of taxCode 1950, § 58-503.2; 1979, c. 153; 1984, c. 675.The license tax levied pursuant to this article shall be paid annually for each tax year based upon the gross receipts received during the taxable year.section1http://law.lis.virginia.gov/vacode/58.1-2620//58.1-2620/58.1/II/26/2/58.1-262036-15858.1-260058.1-266358.1-43958.1-439.12:0958.1-439.1858.1-439.2158.1-439.2658.1-439.659.1-280