The Tax Code of Virginia: With All Amendments Enacted at the Session of the General Assembly of 1928, Volume 289Division of Purchase and Printing, 1928 - 290 pages |
Common terms and phrases
aforesaid amount annual application approved March ascertain attorney authorized bank board of supervisors bonds cents certified chapter circuit court city or town city treasurer clerk Code of Virginia collected Commonwealth compensation Comptroller copy Corporation Commission counties and cities county or city decedent deed of trust delinquent Department of Taxation duty erroneous assessments erty examiner of records exceed excess fiduciary fifty dollars firm or corporation five per centum franchise tax furnish hereby hundred dollars hundred thousand dollars intangible personal property land book less license tax merchant million dollars nineteen hundred operating paid pawnbroker payment prescribed property book provided by law purpose real estate received returns revenue sand dollars sell subsec tangible personal property Tax Bill Tax Code Tax Commissioner tax imposed taxable taxes and levies taxes assessed taxes or levies taxpayer tion Twenty-four hundred Twenty-three hundred Twenty-two hundred
Popular passages
Page 28 - That individuals carrying on business in partnership shall be liable for income tax only in their individual capacity.
Page 28 - ... there shall be included in computing the net income of each beneficiary his distributive share, whether distributed or not, of the net income of the estate or trust for the taxable year...
Page 133 - This tax shall be in lieu of all other taxes and licenses, state, county, and municipal...
Page 12 - ... (e) LOSSES BY INDIVIDUALS. — In the case of an individual, losses sustained during the taxable year and not compensated for by insurance or otherwise — if incurred in trade or business ; or if incurred in any transaction entered into for profit, though not connected with the trade or business...
Page 14 - Any amount paid out for new buildings or for permanent improvements or betterments made to increase the value of any property or estate ; 3. Any amount expended in restoring property or in making good the exhaustion thereof for which an allowance is or has been made; or 4.
Page 15 - If the taxpayer's annual accounting period is other than a fiscal year as defined in section 200 or if the taxpayer has no annual accounting period or does not keep books, the net income shall be computed on the basis of the calendar year.
Page 11 - Gross Income" includes gains, profits, and income derived from salaries, wages, or compensation for personal service, of whatever kind and in whatever form paid, or from professions, vocations, trades, businesses, commerce, or sales, or dealings in property, whether real or personal, growing out of the ownership or use of or interest in such property ; also from interest, rent, dividends, securities, or the transaction of any business carried on for gain or profit, or gains or profits and income...
Page 13 - States by such trustee or trustees, or by such fraternal society, order, or association, exclusively for religious, charitable, scientific; literary, or educational purposes, or for the prevention of cruelty to children or animals...
Page 14 - Such contributions or gifts shall be allowable as deductions only if verified under rules and regulations prescribed by the Commissioner, with the approval of the Secretary.
Page 24 - Income accumulated in trust for the benefit of unborn or unascertained persons or persons with contingent interests, and income accumulated or held for future distribution under the terms of the will or trust...