CODE OF VIRGINIA

NO STATE OR LOCAL TAX ON INTANGIBLE PERSONAL PROPERTY OR MONEY; LOCAL LEVIES AND
LICENSE TAXES (§ 58.1-2690)

A. Except as provided in this chapter, there shall be no state or local taxes
assessed on the intangible personal property, gross receipts or other such money
or income owned by telephone or telegraph companies, railroads, pipeline
companies, or corporations furnishing water, heat, light and power by means of
electricity, gas or steam.

B. On the real estate and tangible personal property of every incorporated
telegraph and telephone company owning or operating telegraph or telephone lines
in Virginia and of railroads, pipeline companies, or corporations furnishing
water, heat, light and power by means of electricity, gas or steam, there shall
be local levies at the rates prescribed by § 58.1-2606.

C. Notwithstanding the provisions of subsection A, any county, city or town may
impose a license tax under § 58.1-3703 upon a corporation owning or operating
telegraph or telephone lines in Virginia for the privilege of doing business
therein, which shall not exceed one-half of one percent of the gross receipts of
such business accruing to such corporation from such business in such county,
city or town; however, charges for long distance telephone calls shall not be
considered receipts of business in such county, city or town.

D. Notwithstanding the provisions of subsection A, any county, city or town may
impose an excise tax under § 58.1-3818.3 upon a corporation owning or operating
telegraph or telephone lines in Virginia, at a rate that shall not exceed the
rate lawfully imposed by § 58.1-3818.3, on such corporation’s gross
receipts from sales of video programming or access to video programming directly
to end-user subscribers who are located within such county, city or town.

HISTORY: Code 1950, §§ 58-518, 58-523, 58-578, 58-593, 58-596, 58-602, 58-606;
1968, c. 637; 1972, cc. 813, 858; 1978, c. 784; 1984, c. 675; 1995, c. 751.