Virginia § 58.1-1213 Credit against state tax for amounts paid cities, towns and counties

Virginia Statutes

§ 58.1-1213 — Credit against state tax for amounts paid cities, towns and counties

Virginia § 58.1-1213

Title 58.1TAXATION

Subtitle ITAXES ADMINISTERED BY THE DEPARTMENT OF TAXATION

Ch. 12BANK FRANCHISE TAX

This text of Virginia § 58.1-1213 (Credit against state tax for amounts paid cities, towns and counties) is published on Counsel Stack Legal Research, covering Virginia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Va. Code Ann. § 58.1-1213 (2026).

Text

Any bank paying any tax assessed by any city, incorporated town, or county within this Commonwealth shall be entitled to credit upon the state tax assessed against it for that year on account of any city, town or county franchise tax paid by such bank for that year. In no event, however, shall the credit exceed the amount of such city, incorporated town or county levies authorized by this chapter.

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Any bank paying any tax assessed by any city, incorporated town, or county within this Commonwealth shall be entitled to credit upon the state tax assessed against it for that year on account of any city, town or county franchise tax paid by such bank for that year. In no event, however, shall the credit exceed the amount of such city, incorporated town or county levies authorized by this chapter.