CODE OF VIRGINIA

SEPARATE CLASSIFICATION AND EXEMPTION FROM STATE TAXATION OF MACHINERY, TOOLS
AND SUPPLIES USED IN HARVESTING FOREST PRODUCTS (§ 58.1-3508)

A. Machinery or tools and repair parts therefor or replacements thereof, used
directly in the harvesting of forest products for sale or for use as a component
part of a product to be sold, shall constitute a classification for local
taxation separate from other such classifications of real or personal property
or machinery and tools as defined in § 58.1-3507. The rate of assessment and
the rate of tax shall not exceed that applicable generally to machinery and
tools.

B. The provisions of this section shall be applicable only to taxpayers liable
for payment of forest product taxes under Chapter 16 (§ 58.1-1600 et seq.) of
this title.

HISTORY: Code 1950, § 58-838.21; 1972, c. 325; 1984, c. 675.