All professional limited liability companies organized or qualifying under the provisions of this chapter shall be treated for income tax purposes under the provisions of Chapter 3 (§ 58.1-300 et seq.) of Title 58.1 in the manner determined under § 58.1-301, and property owned by professional limited liability companies shall be taxed in the actual form in which it may exist and not as capital.
1992, c. 574.
Structure Code of Virginia
Chapter 13 - Virginia Professional Limited Liability Company Act
§ 13.1-1100. Reservation of power to amend or repeal
§ 13.1-1101. Legislative purpose
§ 13.1-1101.1. Practice of certain professions by limited liability companies
§ 13.1-1103. Who may become a member
§ 13.1-1104. Use of initials "P.L.C.," "PLC," "P.L.L.C." or "PLLC" in company name
§ 13.1-1105. Certificate of authority for foreign professional limited liability company
§ 13.1-1112. Special provision for limited liability company engaged in practice of accounting
§ 13.1-1115. Transfer of membership interests
§ 13.1-1116. Disqualification of member, manager, agent or employee
§ 13.1-1120. Income and property taxes
§ 13.1-1122. Application of Chapter 12 of this title
§ 13.1-1123. Coordination with other provisions of Virginia Code