Virginia § 58.1-3510.01 Separate classification of merchants' capital of pharmaceutical wholesalers

Virginia Statutes

§ 58.1-3510.01 — Separate classification of merchants' capital of pharmaceutical wholesalers

Virginia § 58.1-3510.01

JurisdictionVirginia

Title 58.1TAXATION

Subtitle IIILOCAL TAXES

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

Art. 3MERCHANTS' CAPITAL TAX

This text of Virginia § 58.1-3510.01 (Separate classification of merchants' capital of pharmaceutical wholesalers) 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. § 58.1-3510.01 (2026).

Text

Merchants' capital reported as inventory of pharmaceutical wholesalers shall constitute a classification for local taxation separate from other classifications of merchants' capital as defined in § 58.1-3510. The governing body of any county, city or town may levy a tax on such inventory at different rates from the tax levied on other merchants' capital. The rates of tax and the rates of assessment shall not exceed that applicable generally to merchants' capital.

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Merchants' capital reported as inventory of pharmaceutical wholesalers shall constitute a classification for local taxation separate from other classifications of merchants' capital as defined in § 58.1-3510. The governing body of any county, city or town may levy a tax on such inventory at different rates from the tax levied on other merchants' capital. The rates of tax and the rates of assessment shall not exceed that applicable generally to merchants' capital.