Section 58.1-1100, except subdivision A 10 of § 58.1-1101, shall not be construed to apply to (i) any profession that the Commonwealth regulates by law, (ii) industrial development corporations organized pursuant to the terms of §§ 13.1-981 through 13.1-998, or (iii) the business of farming, which includes propagating, growing, selling, and planting, as an incident to the sale, of evergreens, shade trees, shrubs, and all other nursery products, ornamental and otherwise, grown by the seller. Property used or employed in such exempt activities shall be taxable in the actual form in which it exists and not as intangible personal property.
Code 1950, § 58-413; 1956, c. 241; 1962, c. 131; 1982, c. 633; 1984, c. 675; 2019, c. 255.
Structure Code of Virginia
Chapter 11 - Intangible Personal Property Tax
§ 58.1-1100. Intangible personal property; segregated for state taxation
§ 58.1-1102. Intangible personal property of certain poultry and livestock producers
§ 58.1-1103. Exempt professions and businesses; how property used therein taxable
§ 58.1-1104. To what extent dairies taxable on intangible personal property
§ 58.1-1105. Suppliers of pulpwood, veneer logs, mine props and railroad crossties
§ 58.1-1106. Situs; nonresidents, branches outside of Commonwealth
§ 58.1-1107. Date as of which intangible personal property must be returned
§ 58.1-1108. Time for filing returns; payment of tax
§ 58.1-1109. Extension of time for filing returns
§ 58.1-1110. Where to file return; duty of the commissioner of revenue; audit and assessment
§ 58.1-1111. Application to fiduciaries generally
§ 58.1-1112. Forwarding to and audit of returns by Department
§ 58.1-1114. Assessment and payment of deficiency; penalties; application for correction
§ 58.1-1115. Refund of overpayment
§ 58.1-1116. Failure to pay tax when due; civil penalties
§ 58.1-1117. How intangible personal property tax collectible
§ 58.1-1118. Intangible personal property assessment sheets or forms