Virginia § 58.1-3510.02 Separate classification of certain merchants' capital of wholesalers and retailers

Virginia Statutes

§ 58.1-3510.02 — Separate classification of certain merchants' capital of wholesalers and retailers

Virginia § 58.1-3510.02

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 § 58.1-3510.02 (Separate classification of certain merchants' capital of wholesalers and retailers) 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. § 58.1-3510.02 (2026).

Text

Merchants' capital of (i) any wholesaler reported as inventory that is located, and is normally located, in a structure that contains at least 100,000 square feet, with at least 100,000 square feet used solely to store such inventory, and (ii) any retailer reported as inventory that is located, and is normally located, in a structure that contains at least 200,000 square feet, with at least 200,000 square feet used solely to store such inventory, 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 

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Merchants' capital of (i) any wholesaler reported as inventory that is located, and is normally located, in a structure that contains at least 100,000 square feet, with at least 100,000 square feet used solely to store such inventory, and (ii) any retailer reported as inventory that is located, and is normally located, in a structure that contains at least 200,000 square feet, with at least 200,000 square feet used solely to store such inventory, 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.