A tax at the rate of six percent is hereby annually imposed on the Virginia taxable income for each taxable year of every corporation organized under the laws of the Commonwealth and every foreign corporation having income from Virginia sources.
Va. Code Ann. § 58.1-400
Imposition of tax
Applied in 2 court decisions — leading case VIRGINIA CELLULAR v. Va. Dept. of Taxation (2008)
Most recently applied in AMG National Trust Bank v. Commonwealth (April 2011)
Code 1950, §§ 58-151.03, 58-151.031; 1971, Ex
Official source: Virginia Law Portal (LIS). Reproduced from public-domain Virginia statutes; confirm against the official source for the current text. Not legal advice.