§ 74-63. Imposition of tax.

Latest version.

(a)

Pursuant to the provisions of chapter 12 of title 58.1 of the Code of Virginia (Code of Virginia, § 58.1-1200 et seq.), there is hereby imposed upon each bank located outside any incorporated town but otherwise within the boundaries of this county a tax on net capital equaling 80 percent of the state rate of franchise tax set forth in Code of Virginia, § 58.1-1204.

(b)

If any bank located within the boundaries of this county but outside any incorporated town located in the county also has offices outside the county or within the corporate limits of any town therein, the tax shall be apportioned as provided by Code of Virginia, § 58.1-1211.

(Code 1988, § 13-38)

State Law reference— Similar provisions, Code of Virginia, § 58.1-1210.

(Code 1988, § 13-38)

State law reference

Similar provisions, Code of Virginia, § 58.1-1210.

                    
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