{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2026\/code-json\/58.1-2620.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2026\/code-text\/58.1-2620.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2026\/code-xml\/58.1-2620.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2026\/code-html\/58.1-2620.html"}],"law_id":371359,"edition_id":2,"section_id":371359,"structure_id":52877,"section_number":"58.1-2620","catch_line":"Basis of tax","history":"Code 1950, \u00a7 58-503.2; 1979, c. 153; 1984, c. 675.","full_text":"The license tax levied pursuant to this article shall be paid annually for each tax year based upon the gross receipts received during the taxable year.\n\n","order_by":null,"text":{"0":{"id":1385084,"text":"The license tax levied pursuant to this article shall be paid annually for each tax year based upon the gross receipts received during the taxable year.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"ancestry":[{"id":52877,"edition_id":2,"name":"License Tax on Telegraph, Telephone, Water, Heat, Light, Power and Pipeline Companies","identifier":"2","label":"article","depth":4,"order_by":2,"parent_id":52875,"metadata":{"child_laws":15,"child_structures":0},"date_created":"2026-08-02 03:07:13","date_modified":"2026-08-02 12:36:05","permalink":{"id":1483119,"object_type":"structure","relational_id":52877,"identifier":"2","token":"58.1\/II\/26\/2","url":"\/58.1\/II\/26\/2\/","edition_id":2,"permalink":0,"preferred":1}},{"id":52875,"edition_id":2,"name":"Taxation of Public Service Corporations","identifier":"26","label":"chapter","depth":3,"order_by":5,"parent_id":52853,"metadata":{"child_laws":62,"child_structures":8},"date_created":"2026-08-02 03:07:12","date_modified":"2026-08-02 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12:35:49","permalink":{"id":1478961,"object_type":"structure","relational_id":52815,"identifier":"58.1","token":"58.1","url":"\/58.1\/","edition_id":2,"permalink":0,"preferred":1}}],"structure_contents":[{"id":371359,"structure_id":52877,"section_number":"58.1-2620","catch_line":"Basis of tax","url":"\/58.1-2620\/","token":"58.1\/II\/26\/2\/58.1-2620","metadata":false},{"id":371360,"structure_id":52877,"section_number":"58.1-2621","catch_line":"Repealed","url":"\/58.1-2621\/","token":"58.1\/II\/26\/2\/58.1-2621","metadata":false},{"id":371362,"structure_id":52877,"section_number":"58.1-2626","catch_line":"Annual state license tax on companies furnishing water, heat, light or power","url":"\/58.1-2626\/","token":"58.1\/II\/26\/2\/58.1-2626","metadata":false},{"id":371361,"structure_id":52877,"section_number":"58.1-2626.1","catch_line":"The Virginia Coal Employment and Production Incentive Tax Credit","url":"\/58.1-2626.1\/","token":"58.1\/II\/26\/2\/58.1-2626.1","metadata":false},{"id":371364,"structure_id":52877,"section_number":"58.1-2627","catch_line":"Exemptions","url":"\/58.1-2627\/","token":"58.1\/II\/26\/2\/58.1-2627","metadata":false},{"id":371363,"structure_id":52877,"section_number":"58.1-2627.1","catch_line":"Taxation of pipeline companies","url":"\/58.1-2627.1\/","token":"58.1\/II\/26\/2\/58.1-2627.1","metadata":false},{"id":371365,"structure_id":52877,"section_number":"58.1-2628","catch_line":"Annual report","url":"\/58.1-2628\/","token":"58.1\/II\/26\/2\/58.1-2628","metadata":false},{"id":371366,"structure_id":52877,"section_number":"58.1-2629","catch_line":"License taxes of corporations commencing business","url":"\/58.1-2629\/","token":"58.1\/II\/26\/2\/58.1-2629","metadata":false},{"id":371367,"structure_id":52877,"section_number":"58.1-2630","catch_line":"Gross receipts in cases of acquisition of business","url":"\/58.1-2630\/","token":"58.1\/II\/26\/2\/58.1-2630","metadata":false},{"id":371368,"structure_id":52877,"section_number":"58.1-2631","catch_line":"Gross receipts in cases of consolidation or merger","url":"\/58.1-2631\/","token":"58.1\/II\/26\/2\/58.1-2631","metadata":false},{"id":371369,"structure_id":52877,"section_number":"58.1-2632","catch_line":"Applicability of other provisions to corporations commencing business, acquiring other business, or consolidated or merged","url":"\/58.1-2632\/","token":"58.1\/II\/26\/2\/58.1-2632","metadata":{"court_decisions":""}},{"id":371370,"structure_id":52877,"section_number":"58.1-2633","catch_line":"Assessment by Commission","url":"\/58.1-2633\/","token":"58.1\/II\/26\/2\/58.1-2633","metadata":false},{"id":371371,"structure_id":52877,"section_number":"58.1-2634","catch_line":"Copies of assessment forwarded to interested parties","url":"\/58.1-2634\/","token":"58.1\/II\/26\/2\/58.1-2634","metadata":false},{"id":371372,"structure_id":52877,"section_number":"58.1-2635","catch_line":"Date of payment of taxes","url":"\/58.1-2635\/","token":"58.1\/II\/26\/2\/58.1-2635","metadata":false},{"id":371373,"structure_id":52877,"section_number":"58.1-2636","catch_line":"Revenue share for solar energy projects and energy storage systems","url":"\/58.1-2636\/","token":"58.1\/II\/26\/2\/58.1-2636","metadata":false}],"next_section":{"id":371360,"structure_id":52877,"section_number":"58.1-2621","catch_line":"Repealed","url":"\/58.1-2621\/","token":"58.1\/II\/26\/2\/58.1-2621","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/58.1-2620\/","history_text":"<p>The record of this law\u2019s original creation isn\u2019t available online. It has been modified 2 times. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. Those modifications are as follows: in 1979, chapter 153; in 1984, chapter 675.<\/p>","references":[{"id":360645,"section_number":"36-158","catch_line":"Definitions","order_by":null,"url":"\/36-158\/"},{"id":370166,"section_number":"56-235.8","catch_line":"Retail supply choice for natural gas customers","order_by":null,"url":"\/56-235.8\/"},{"id":371345,"section_number":"58.1-2600","catch_line":"Definitions","order_by":null,"url":"\/58.1-2600\/"},{"id":371390,"section_number":"58.1-2663","catch_line":"How taxes assessed, collected and paid","order_by":null,"url":"\/58.1-2663\/"},{"id":371793,"section_number":"58.1-339.2","catch_line":"Historic rehabilitation tax credit","order_by":null,"url":"\/58.1-339.2\/"},{"id":372383,"section_number":"58.1-439","catch_line":"Major business facility job tax credit","order_by":null,"url":"\/58.1-439\/"},{"id":372353,"section_number":"58.1-439.12:09","catch_line":"Barge and rail usage tax credit","order_by":null,"url":"\/58.1-439.12_09\/"},{"id":372359,"section_number":"58.1-439.18","catch_line":"Definitions","order_by":null,"url":"\/58.1-439.18\/"},{"id":372365,"section_number":"58.1-439.21","catch_line":"Tax credit; amount; limitation; carry over","order_by":null,"url":"\/58.1-439.21\/"},{"id":372370,"section_number":"58.1-439.26","catch_line":"Tax credit for donations to certain scholarship foundations","order_by":null,"url":"\/58.1-439.26\/"},{"id":372373,"section_number":"58.1-439.29","catch_line":"Definitions","order_by":null,"url":"\/58.1-439.29\/"},{"id":372378,"section_number":"58.1-439.6","catch_line":"Worker retraining tax credit","order_by":null,"url":"\/58.1-439.6\/"},{"id":372379,"section_number":"58.1-439.6:1","catch_line":"Worker training tax credit","order_by":null,"url":"\/58.1-439.6_1\/"},{"id":372871,"section_number":"59.1-280","catch_line":"Enterprise zone business tax credit","order_by":null,"url":"\/59.1-280\/"},{"id":372869,"section_number":"59.1-280.1","catch_line":"Enterprise zone real property investment tax credit","order_by":null,"url":"\/59.1-280.1\/"}],"refers_to":false,"permalink":{"id":1483121,"object_type":"law","relational_id":371359,"identifier":"58.1-2620","token":"58.1\/II\/26\/2\/58.1-2620","url":"\/58.1-2620\/","edition_id":2,"permalink":0,"preferred":1},"url":"\/58.1-2620\/","token":"58.1\/II\/26\/2\/58.1-2620","dublin_core":{"Title":"Basis of tax","Type":"Text","Format":"text\/html","Identifier":"\u00a7 58.1-2620","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t<section><p>The license tax levied pursuant to this article shall be paid annually for each tax year based upon the gross receipts received during the taxable year.<\/p><\/section>","plain_text":"                                 CODE OF VIRGINIA\n\nBASIS OF TAX (\u00a7 58.1-2620)\n\nThe license tax levied pursuant to this article shall be paid annually for each\ntax year based upon the gross receipts received during the taxable year.\n\nHISTORY: Code 1950, \u00a7 58-503.2; 1979, c. 153; 1984, c. 675.","edition":{"id":2,"name":"2026","slug":"2026","date_created":"2026-07-16 18:40:23","date_modified":"2026-08-02 15:14:36","current":1,"order_by":2,"last_import":"2026-08-02 12:37:30"}}