{"law_id":"795416","section_number":"58.1-405","catch_line":"Corporations transacting or conducting entire business within this Commonwealth","history":"Code 1950, \u00a7 58-151.033; 1971, Ex. Sess., c. 171; 1981, c. 402; 1984, c. 675.","order_by":null,"metadata":false,"court_decisions":{},"official_url":"http:\/\/law.lis.virginia.gov\/vacode\/58.1-405\/","refers_to":false,"url":"\/58.1-405\/","token":"58.1\/I\/3\/10\/58.1-405","structure":{"1":{"id":"2040","name":"Taxation Of Corporations","identifier":"10","label":"article","url":"\/58.1\/I\/3\/10\/"},"2":{"id":"88","name":"Income Tax","identifier":"3","label":"chapter","url":"\/58.1\/I\/3\/"},"3":{"id":"2","name":"Taxes Administered By The Department Of Taxation","identifier":"I","label":"subtitle","url":"\/58.1\/I\/"},"4":{"id":"1","name":"Taxation","identifier":"58.1","label":"title","url":"\/58.1\/"}},"referred_to_by":false,"edition_id":"11","section_id":"795416","structure_id":"2040","full_text":"If the entire business of the corporation is transacted or conducted within the Commonwealth, the tax imposed by this chapter shall be upon the entire Virginia taxable income of such corporation for each taxable year. The entire business of the corporation shall be deemed to have been transacted or conducted within the Commonwealth if such corporation is not subject in any other state to a net income tax, a franchise tax measured by net income, or a franchise tax for the privilege of doing business.","text":{"0":{"id":"2567414","text":"If the entire business of the corporation is transacted or conducted within the Commonwealth, the tax imposed by this chapter shall be upon the entire Virginia taxable income of such corporation for each taxable year. The entire business of the corporation shall be deemed to have been transacted or conducted within the Commonwealth if such corporation is not subject in any other state to a net income tax, a franchise tax measured by net income, or a franchise tax for the privilege of doing business.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"ancestry":{"1":{"id":"2040","name":"Taxation Of Corporations","identifier":"10","label":"article","url":"\/58.1\/I\/3\/10\/"},"2":{"id":"88","name":"Income Tax","identifier":"3","label":"chapter","url":"\/58.1\/I\/3\/"},"3":{"id":"2","name":"Taxes Administered By The Department Of Taxation","identifier":"I","label":"subtitle","url":"\/58.1\/I\/"},"4":{"id":"1","name":"Taxation","identifier":"58.1","label":"title","url":"\/58.1\/"}},"structure_contents":{"0":{"id":"771453","structure_id":"2040","section_number":"58.1-400","catch_line":"Imposition of tax","url":"\/58.1-400\/","token":"58.1\/I\/3\/10\/58.1-400"},"1":{"id":"794602","structure_id":"2040","section_number":"58.1-400.1","catch_line":"Minimum tax on telecommunications companies","url":"\/58.1-400.1\/","token":"58.1\/I\/3\/10\/58.1-400.1"},"2":{"id":"775614","structure_id":"2040","section_number":"58.1-400.2","catch_line":"Taxation of electric suppliers, pipeline distribution companies, gas utilities, and gas suppliers","url":"\/58.1-400.2\/","token":"58.1\/I\/3\/10\/58.1-400.2"},"3":{"id":"767695","structure_id":"2040","section_number":"58.1-400.3","catch_line":"Minimum tax on certain electric suppliers","url":"\/58.1-400.3\/","token":"58.1\/I\/3\/10\/58.1-400.3"},"4":{"id":"780454","structure_id":"2040","section_number":"58.1-401","catch_line":"Exemptions and exclusions","url":"\/58.1-401\/","token":"58.1\/I\/3\/10\/58.1-401"},"5":{"id":"794749","structure_id":"2040","section_number":"58.1-402","catch_line":"Virginia taxable income","url":"\/58.1-402\/","token":"58.1\/I\/3\/10\/58.1-402"},"6":{"id":"781696","structure_id":"2040","section_number":"58.1-403","catch_line":"Additional modifications to determine Virginia taxable income for certain corporations","url":"\/58.1-403\/","token":"58.1\/I\/3\/10\/58.1-403"},"7":{"id":"794492","structure_id":"2040","section_number":"58.1-404","catch_line":"Repealed","url":"\/58.1-404\/","token":"58.1\/I\/3\/10\/58.1-404"},"8":{"id":"795416","structure_id":"2040","section_number":"58.1-405","catch_line":"Corporations transacting or conducting entire business within this Commonwealth","url":"\/58.1-405\/","token":"58.1\/I\/3\/10\/58.1-405"},"9":{"id":"770011","structure_id":"2040","section_number":"58.1-406","catch_line":"Allocation and apportionment of income","url":"\/58.1-406\/","token":"58.1\/I\/3\/10\/58.1-406"},"10":{"id":"774335","structure_id":"2040","section_number":"58.1-407","catch_line":"How dividends allocated","url":"\/58.1-407\/","token":"58.1\/I\/3\/10\/58.1-407"},"11":{"id":"784262","structure_id":"2040","section_number":"58.1-408","catch_line":"What income apportioned and how","url":"\/58.1-408\/","token":"58.1\/I\/3\/10\/58.1-408"},"12":{"id":"782701","structure_id":"2040","section_number":"58.1-409","catch_line":"Property factor","url":"\/58.1-409\/","token":"58.1\/I\/3\/10\/58.1-409"},"13":{"id":"772232","structure_id":"2040","section_number":"58.1-410","catch_line":"Valuation of property owned or rented","url":"\/58.1-410\/","token":"58.1\/I\/3\/10\/58.1-410"},"14":{"id":"787107","structure_id":"2040","section_number":"58.1-411","catch_line":"Average value of property","url":"\/58.1-411\/","token":"58.1\/I\/3\/10\/58.1-411"},"15":{"id":"780071","structure_id":"2040","section_number":"58.1-412","catch_line":"Payroll factor","url":"\/58.1-412\/","token":"58.1\/I\/3\/10\/58.1-412"},"16":{"id":"769553","structure_id":"2040","section_number":"58.1-413","catch_line":"When compensation deemed paid or accrued in this Commonwealth","url":"\/58.1-413\/","token":"58.1\/I\/3\/10\/58.1-413"},"17":{"id":"788787","structure_id":"2040","section_number":"58.1-414","catch_line":"Sales factor","url":"\/58.1-414\/","token":"58.1\/I\/3\/10\/58.1-414"},"18":{"id":"771674","structure_id":"2040","section_number":"58.1-415","catch_line":"When sales of tangible personal property deemed in the Commonwealth","url":"\/58.1-415\/","token":"58.1\/I\/3\/10\/58.1-415"},"19":{"id":"784201","structure_id":"2040","section_number":"58.1-416","catch_line":"When certain other sales deemed in the Commonwealth","url":"\/58.1-416\/","token":"58.1\/I\/3\/10\/58.1-416"},"20":{"id":"788911","structure_id":"2040","section_number":"58.1-417","catch_line":"Motor carriers; apportionment","url":"\/58.1-417\/","token":"58.1\/I\/3\/10\/58.1-417"},"21":{"id":"785776","structure_id":"2040","section_number":"58.1-418","catch_line":"Financial corporations; apportionment","url":"\/58.1-418\/","token":"58.1\/I\/3\/10\/58.1-418"},"22":{"id":"783829","structure_id":"2040","section_number":"58.1-419","catch_line":"Construction corporations; apportionment","url":"\/58.1-419\/","token":"58.1\/I\/3\/10\/58.1-419"},"23":{"id":"788990","structure_id":"2040","section_number":"58.1-420","catch_line":"Railway companies; apportionment","url":"\/58.1-420\/","token":"58.1\/I\/3\/10\/58.1-420"},"24":{"id":"784790","structure_id":"2040","section_number":"58.1-421","catch_line":"Alternative method of allocation","url":"\/58.1-421\/","token":"58.1\/I\/3\/10\/58.1-421"},"25":{"id":"772952","structure_id":"2040","section_number":"58.1-422","catch_line":"Manufacturing companies; apportionment","url":"\/58.1-422\/","token":"58.1\/I\/3\/10\/58.1-422"},"26":{"id":"770551","structure_id":"2040","section_number":"58.1-422.1","catch_line":"Retail companies; apportionment","url":"\/58.1-422.1\/","token":"58.1\/I\/3\/10\/58.1-422.1"},"27":{"id":"771425","structure_id":"2040","section_number":"58.1-422.2","catch_line":"Apportionment; taxpayers with enterprise data center operations","url":"\/58.1-422.2\/","token":"58.1\/I\/3\/10\/58.1-422.2"},"28":{"id":"783023","structure_id":"2040","section_number":"58.1-423","catch_line":"Income tax paid by commercial spaceflight entities","url":"\/58.1-423\/","token":"58.1\/I\/3\/10\/58.1-423"}},"previous_section":{"id":"794492","structure_id":"2040","section_number":"58.1-404","catch_line":"Repealed","url":"\/58.1-404\/","token":"58.1\/I\/3\/10\/58.1-404"},"next_section":{"id":"770011","structure_id":"2040","section_number":"58.1-406","catch_line":"Allocation and apportionment of income","url":"\/58.1-406\/","token":"58.1\/I\/3\/10\/58.1-406"},"references":false,"formats":{"txt":"\/58.1-405.txt","json":"\/58.1-405.json","xml":"\/58.1-405.xml"},"dublin_core":{"Title":"Corporations transacting or conducting entire business within this Commonwealth","Type":"Text","Format":"text\/html","Identifier":"\u00a7 58.1-405","Relation":"Code of Virginia"},"plain_text":"                                 CODE OF VIRGINIA\n\nCORPORATIONS TRANSACTING OR CONDUCTING ENTIRE BUSINESS WITHIN THIS COMMONWEALTH\n(\u00a7 58.1-405)\n\nIf the entire business of the corporation is transacted or conducted within the\nCommonwealth, the tax imposed by this chapter shall be upon the entire Virginia\ntaxable income of such corporation for each taxable year. The entire business of\nthe corporation shall be deemed to have been transacted or conducted within the\nCommonwealth if such corporation is not subject in any other state to a net\nincome tax, a franchise tax measured by net income, or a franchise tax for the\nprivilege of doing business.\n\nHISTORY: Code 1950, \u00a7 58-151.033; 1971, Ex. Sess., c. 171; 1981, c. 402; 1984,\nc. 675."}