Virginia § 58.1-3508 Separate classification and exemption from state taxation of machinery, tools and supplies used in harvesting forest products

Virginia Statutes

§ 58.1-3508 — Separate classification and exemption from state taxation of machinery, tools and supplies used in harvesting forest products

Virginia § 58.1-3508

JurisdictionVirginia

Title 58.1TAXATION

Subtitle IIILOCAL TAXES

Ch. 35TANGIBLE PERSONAL PROPERTY, MACHINERY AND TOOLS AND MERCHANTS' CAPITAL

Art. 2MACHINERY AND TOOLS TAX

This text of Virginia § 58.1-3508 (Separate classification and exemption from state taxation of machinery, tools and supplies used in harvesting forest products) 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. § 58.1-3508 (2026).

Text

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.

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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.