Virginia

Decoded

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§ 58.1-407 How dividends allocated

Dividends received to the extent included in Virginia taxable income are allocable to the state of commercial domicile of the taxpaying corporation.

History

The record of this law’s original creation isn’t available online. The oldest record of it is its appearance in the Code of Virginia of 1950, as § 58-151.037. It has been modified 3 times. Those modifications are cataloged by “The Acts of Assembly,” a state publication, by year and chapter. Those modifications that can be read on the General Assembly’s website will be linked accordingly. Those modifications are as follows: in 1971, chapter 171 of the Extra Session; in 1981, chapter 402; in 1984, chapter 675.

Code 1950, § 58-151.037; 1971, Ex. Sess., c. 171; 1981, c. 402; 1984, c. 675.

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What This Is

This is a law from the Code of Virginia. This is the actual, unchanged text of one of the many laws that govern Virginia.

Trust, But Verify

If you’re reading this for anything important, you should double-check its accuracy—read § 58.1-407 on the official Code of Virginia website.

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Court Decisions

. . . Commonwealth of Virginia, Department of Taxation v. FJ . . . (COA, 11/12/24)
. . . COURT OF APPEALS OF VIRGINIA . . .
COM., DEPT. OF TAXATION v. Delta Air Lines (SCV, 02/26/99)
. . . 513 S.E.2d 130 (1999) . . .
Corning Glass Works, Inc. v. Virginia Department of Taxation (SCV, 03/01/91)
. . . 402 S.E.2d 35 (1991) . . .

Court opinions are provided by CourtListener, which is developed by the Free Law Project.

Amendment Attempts

HB1969: Taxation; extension of expiring sunsets, etc.
HB2646: Income tax, state; eligibility of companies for apportionment modification. (failed)
HB958: Income tax, corporate; taxable income, net operating loss. (failed)
SB702: Income tax, state; brackets, deductions, and exemptions, inflation indexing. (failed)