State Codes and Statutes
Statutes > Virginia > Title-58-1 > Chapter-11 > 58-1-1106§ 58.1-1106. Situs; nonresidents, branches outside of Commonwealth.
A. Every nonresident person, every foreign corporation and every partnershipconsisting in whole or in part of nonresident persons doing business in thisCommonwealth is hereby declared to have a business domicile within thisCommonwealth and so much of the intangible personal property of any suchperson, firm or corporation as may have acquired or may hereafter acquire abusiness situs within this Commonwealth shall be reported by and taxed tosuch person, firm or corporation in the same manner and to the same extent asif such person, firm or corporation were a resident or composed entirely ofresident individuals or a domestic corporation.
B. When any person, firm or corporation domiciled and doing business in thisCommonwealth maintains a branch of such business outside of thisCommonwealth, no part of the intangible personal property of such person,firm or corporation having acquired a business situs at any such branchoutside of this Commonwealth shall be considered as situated in thisCommonwealth for the purpose of taxation or be assessed with taxes in thisCommonwealth.
(Code 1950, §§ 58-414, 58-415; 1982, c. 633; 1984, c. 675.)
