The Virginia taxable income of any corporation, except those subject to theprovisions of § 58.1-417, 58.1-418, 58.1-419, 58.1-420, or 58.1-422,excluding income allocable under § 58.1-407, shall be apportioned to theCommonwealth by multiplying such income by a fraction, the numerator of whichis the property factor plus the payroll factor, plus twice the sales factor,and the denominator of which is four; however, where the sales factor doesnot exist, the denominator of the fraction shall be the number of existingfactors and where the sales factor exists but the payroll factor or theproperty factor does not exist, the denominator of the fraction shall be thenumber of existing factors plus one.
(Code 1950, § 58-151.041; 1971, Ex. Sess., c. 171; 1981, c. 402; 1984, c.675; 1999, cc. 158, 186; 2009, c. 821.)
The Virginia taxable income of any corporation, except those subject to theprovisions of § 58.1-417, 58.1-418, 58.1-419, 58.1-420, or 58.1-422,excluding income allocable under § 58.1-407, shall be apportioned to theCommonwealth by multiplying such income by a fraction, the numerator of whichis the property factor plus the payroll factor, plus twice the sales factor,and the denominator of which is four; however, where the sales factor doesnot exist, the denominator of the fraction shall be the number of existingfactors and where the sales factor exists but the payroll factor or theproperty factor does not exist, the denominator of the fraction shall be thenumber of existing factors plus one.
(Code 1950, § 58-151.041; 1971, Ex. Sess., c. 171; 1981, c. 402; 1984, c.675; 1999, cc. 158, 186; 2009, c. 821.)
The Virginia taxable income of any corporation, except those subject to theprovisions of § 58.1-417, 58.1-418, 58.1-419, 58.1-420, or 58.1-422,excluding income allocable under § 58.1-407, shall be apportioned to theCommonwealth by multiplying such income by a fraction, the numerator of whichis the property factor plus the payroll factor, plus twice the sales factor,and the denominator of which is four; however, where the sales factor doesnot exist, the denominator of the fraction shall be the number of existingfactors and where the sales factor exists but the payroll factor or theproperty factor does not exist, the denominator of the fraction shall be thenumber of existing factors plus one.
(Code 1950, § 58-151.041; 1971, Ex. Sess., c. 171; 1981, c. 402; 1984, c.675; 1999, cc. 158, 186; 2009, c. 821.)
