{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2026\/code-json\/58.1-410.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2026\/code-text\/58.1-410.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2026\/code-xml\/58.1-410.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2026\/code-html\/58.1-410.html"}],"law_id":372268,"edition_id":2,"section_id":372268,"structure_id":52969,"section_number":"58.1-410","catch_line":"Valuation of property owned or rented","history":"Code 1950, \u00a7 58-151.043; 1971, Ex. Sess., c. 171; 1981, c. 402; 1984, c. 675.","full_text":"Property owned by the corporation shall be valued at its original cost plus the cost of additions and improvements. Property rented by the corporation shall be valued at eight times the annual rental rate paid by the corporation. The value of movable tangible personal property used both within and without the Commonwealth shall be included in the numerator to the extent of its utilization in the Commonwealth. The extent of such utilization shall be determined by multiplying the total value of such property by a fraction, the numerator of which is the number of days of physical location of the property in the Commonwealth during the taxable period and the denominator of which is the number of days of physical location of the property everywhere during the taxable period. The number of days of physical location of the property may be determined on a statistical basis or by such other reasonable method acceptable to the Department.\n\n","order_by":null,"text":{"0":{"id":1388012,"text":"Property owned by the corporation shall be valued at its original cost plus the cost of additions and improvements. Property rented by the corporation shall be valued at eight times the annual rental rate paid by the corporation. The value of movable tangible personal property used both within and without the Commonwealth shall be included in the numerator to the extent of its utilization in the Commonwealth. The extent of such utilization shall be determined by multiplying the total value of such property by a fraction, the numerator of which is the number of days of physical location of the property in the Commonwealth during the taxable period and the denominator of which is the number of days of physical location of the property everywhere during the taxable period. The number of days of physical location of the property may be determined on a statistical basis or by such other reasonable method acceptable to the Department.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"ancestry":[{"id":52969,"edition_id":2,"name":"Taxation of Corporations","identifier":"10","label":"article","depth":4,"order_by":9,"parent_id":52888,"metadata":{"child_laws":34,"child_structures":0},"date_created":"2026-08-02 03:08:54","date_modified":"2026-08-02 12:35:52","permalink":{"id":1480361,"object_type":"structure","relational_id":52969,"identifier":"10","token":"58.1\/I\/3\/10","url":"\/58.1\/I\/3\/10\/","edition_id":2,"permalink":0,"preferred":1}},{"id":52888,"edition_id":2,"name":"Income Tax","identifier":"3","label":"chapter","depth":3,"order_by":3,"parent_id":52818,"metadata":{"child_laws":307,"child_structures":23},"date_created":"2026-08-02 03:07:22","date_modified":"2026-08-02 12:35:49","permalink":{"id":1480269,"object_type":"structure","relational_id":52888,"identifier":"3","token":"58.1\/I\/3","url":"\/58.1\/I\/3\/","edition_id":2,"permalink":0,"preferred":1}},{"id":52818,"edition_id":2,"name":"Taxes Administered by the Department of Taxation","identifier":"I","label":"subtitle","depth":2,"order_by":2,"parent_id":52815,"metadata":{"child_laws":762,"child_structures":68},"date_created":"2026-08-02 03:06:17","date_modified":"2026-08-02 12:35:49","permalink":{"id":1479077,"object_type":"structure","relational_id":52818,"identifier":"I","token":"58.1\/I","url":"\/58.1\/I\/","edition_id":2,"permalink":0,"preferred":1}},{"id":52815,"edition_id":2,"name":"Taxation","identifier":"58.1","label":"title","depth":1,"order_by":125,"parent_id":null,"metadata":{"child_laws":1793,"child_structures":194},"date_created":"2026-08-02 03:06:17","date_modified":"2026-08-02 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":372197,"structure_id":52969,"section_number":"58.1-400","catch_line":"Imposition of tax","url":"\/58.1-400\/","token":"58.1\/I\/3\/10\/58.1-400","metadata":false},{"id":372193,"structure_id":52969,"section_number":"58.1-400.1","catch_line":"Minimum tax on telecommunications companies","url":"\/58.1-400.1\/","token":"58.1\/I\/3\/10\/58.1-400.1","metadata":false},{"id":372194,"structure_id":52969,"section_number":"58.1-400.2","catch_line":"Taxation of electric suppliers, pipeline distribution companies, gas utilities, and gas suppliers","url":"\/58.1-400.2\/","token":"58.1\/I\/3\/10\/58.1-400.2","metadata":false},{"id":372195,"structure_id":52969,"section_number":"58.1-400.3","catch_line":"Minimum tax on certain electric suppliers","url":"\/58.1-400.3\/","token":"58.1\/I\/3\/10\/58.1-400.3","metadata":false},{"id":372196,"structure_id":52969,"section_number":"58.1-400.4","catch_line":"Minimum tax on home service contract providers","url":"\/58.1-400.4\/","token":"58.1\/I\/3\/10\/58.1-400.4","metadata":false},{"id":372212,"structure_id":52969,"section_number":"58.1-401","catch_line":"Exemptions and exclusions","url":"\/58.1-401\/","token":"58.1\/I\/3\/10\/58.1-401","metadata":false},{"id":372228,"structure_id":52969,"section_number":"58.1-402","catch_line":"Virginia taxable income","url":"\/58.1-402\/","token":"58.1\/I\/3\/10\/58.1-402","metadata":false},{"id":372241,"structure_id":52969,"section_number":"58.1-403","catch_line":"Additional modifications to determine Virginia taxable income for certain corporations","url":"\/58.1-403\/","token":"58.1\/I\/3\/10\/58.1-403","metadata":false},{"id":372252,"structure_id":52969,"section_number":"58.1-404","catch_line":"Reserved","url":"\/58.1-404\/","token":"58.1\/I\/3\/10\/58.1-404","metadata":false},{"id":372263,"structure_id":52969,"section_number":"58.1-405","catch_line":"Corporations transacting or conducting entire business within this Commonwealth","url":"\/58.1-405\/","token":"58.1\/I\/3\/10\/58.1-405","metadata":false},{"id":372262,"structure_id":52969,"section_number":"58.1-405.1","catch_line":"Eligibility of companies for apportionment modification; certification by the Virginia Economic Development Partnership Authority","url":"\/58.1-405.1\/","token":"58.1\/I\/3\/10\/58.1-405.1","metadata":false},{"id":372264,"structure_id":52969,"section_number":"58.1-406","catch_line":"Allocation and apportionment of income","url":"\/58.1-406\/","token":"58.1\/I\/3\/10\/58.1-406","metadata":{"court_decisions":{"0":{"name":" .\u202f.\u202f. Commonwealth of Virginia, Department of Taxation v. FJ .\u202f.\u202f. ","case_number":"0701232","citation":null,"date":"2024-11-12","url":"https:\/\/www.courtlistener.com\/opinion\/10272400\/commonwealth-of-virginia-department-of-taxation-v-fj-management-inc\/","abstract":" .\u202f.\u202f. COURT OF APPEALS OF VIRGINIA .\u202f.\u202f. ","court_html":"<abbr title=\"Court of Appeals\">COA<\/abbr>"},"1":{"name":"COM., DEPT. OF TAXATION v. Delta Air Lines","case_number":"Record 980824","citation":"513 S.E.2d 130","date":"1999-02-26","url":"https:\/\/www.courtlistener.com\/opinion\/1059794\/com-dept-of-taxation-v-delta-air-lines\/","abstract":" .\u202f.\u202f. 513 S.E.2d 130 (1999) .\u202f.\u202f. ","court_html":"<abbr title=\"Supreme Court of Virginia\">SCV<\/abbr>"}}}},{"id":372265,"structure_id":52969,"section_number":"58.1-407","catch_line":"How dividends allocated","url":"\/58.1-407\/","token":"58.1\/I\/3\/10\/58.1-407","metadata":{"court_decisions":{"0":{"name":" .\u202f.\u202f. 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Virginia Department of Taxation","case_number":"Record 900872","citation":"402 S.E.2d 35","date":"1991-03-01","url":"https:\/\/www.courtlistener.com\/opinion\/1217444\/corning-glass-works-inc-v-virginia-department-of-taxation\/","abstract":" .\u202f.\u202f. 402 S.E.2d 35 (1991) .\u202f.\u202f. ","court_html":"<abbr title=\"Supreme Court of Virginia\">SCV<\/abbr>"}}}},{"id":372266,"structure_id":52969,"section_number":"58.1-408","catch_line":"What income apportioned and how","url":"\/58.1-408\/","token":"58.1\/I\/3\/10\/58.1-408","metadata":{"court_decisions":{"0":{"name":" .\u202f.\u202f. Commonwealth of Virginia, Department of Taxation v. FJ .\u202f.\u202f. ","case_number":"0701232","citation":null,"date":"2024-11-12","url":"https:\/\/www.courtlistener.com\/opinion\/10272400\/commonwealth-of-virginia-department-of-taxation-v-fj-management-inc\/","abstract":" .\u202f.\u202f. COURT OF APPEALS OF VIRGINIA .\u202f.\u202f. ","court_html":"<abbr title=\"Court of Appeals\">COA<\/abbr>"},"1":{"name":"Department of Taxation v. Westmoreland Coal Co.","case_number":"Record 841635","citation":"366 S.E.2d 78","date":"1988-03-04","url":"https:\/\/www.courtlistener.com\/opinion\/1272233\/department-of-taxation-v-westmoreland-coal-co\/","abstract":" .\u202f.\u202f. 366 S.E.2d 78 (1988) .\u202f.\u202f. ","court_html":"<abbr title=\"Supreme Court of Virginia\">SCV<\/abbr>"},"2":{"name":"Virginia Department of Taxation v. R.J. Reynolds Tobacco","case_number":"201263","citation":null,"date":"2022-02-10","url":"https:\/\/www.courtlistener.com\/opinion\/6349284\/virginia-department-of-taxation-v-rj-reynolds-tobacco\/","abstract":" .\u202f.\u202f. PRESENT: All the Justices 1 .\u202f.\u202f. ","court_html":"<abbr title=\"Supreme Court of Virginia\">SCV<\/abbr>"},"3":{"name":" .\u202f.\u202f. Commonwealth of Virginia, Department of Taxation v. 1887 .\u202f.\u202f. ","case_number":"0598222","citation":null,"date":"2023-05-23","url":"https:\/\/www.courtlistener.com\/opinion\/9401156\/commonwealth-of-virginia-department-of-taxation-v-1887-holdings-inc\/","abstract":" .\u202f.\u202f. COURT OF APPEALS OF VIRGINIA .\u202f.\u202f. ","court_html":"<abbr title=\"Court of Appeals\">COA<\/abbr>"},"4":{"name":"The Corporate Executive Board Co. v. Dept. of Taxation","case_number":"171627","citation":null,"date":"2019-02-07","url":"https:\/\/www.courtlistener.com\/opinion\/4588244\/the-corporate-executive-board-co-v-dept-of-taxation\/","abstract":" .\u202f.\u202f. PRESENT: All the Justices .\u202f.\u202f. ","court_html":"<abbr title=\"Supreme Court of Virginia\">SCV<\/abbr>"},"5":{"name":"COM., DEPT. OF TAXATION v. 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","court_html":"<abbr title=\"Supreme Court of Virginia\">SCV<\/abbr>"}}}},{"id":372267,"structure_id":52969,"section_number":"58.1-409","catch_line":"Property factor","url":"\/58.1-409\/","token":"58.1\/I\/3\/10\/58.1-409","metadata":false},{"id":372268,"structure_id":52969,"section_number":"58.1-410","catch_line":"Valuation of property owned or rented","url":"\/58.1-410\/","token":"58.1\/I\/3\/10\/58.1-410","metadata":false},{"id":372280,"structure_id":52969,"section_number":"58.1-411","catch_line":"Average value of property","url":"\/58.1-411\/","token":"58.1\/I\/3\/10\/58.1-411","metadata":false},{"id":372291,"structure_id":52969,"section_number":"58.1-412","catch_line":"Payroll factor","url":"\/58.1-412\/","token":"58.1\/I\/3\/10\/58.1-412","metadata":false},{"id":372303,"structure_id":52969,"section_number":"58.1-413","catch_line":"When compensation deemed paid or accrued in this Commonwealth","url":"\/58.1-413\/","token":"58.1\/I\/3\/10\/58.1-413","metadata":false},{"id":372314,"structure_id":52969,"section_number":"58.1-414","catch_line":"Sales factor","url":"\/58.1-414\/","token":"58.1\/I\/3\/10\/58.1-414","metadata":false},{"id":372317,"structure_id":52969,"section_number":"58.1-415","catch_line":"When sales of tangible personal property deemed in the Commonwealth","url":"\/58.1-415\/","token":"58.1\/I\/3\/10\/58.1-415","metadata":false},{"id":372318,"structure_id":52969,"section_number":"58.1-416","catch_line":"(Contingent effective date \u2014 See Editor's note) When certain other sales deemed in the Commonwealth","url":"\/58.1-416\/","token":"58.1\/I\/3\/10\/58.1-416","metadata":false},{"id":372319,"structure_id":52969,"section_number":"58.1-417","catch_line":"Motor carriers; apportionment","url":"\/58.1-417\/","token":"58.1\/I\/3\/10\/58.1-417","metadata":false},{"id":372320,"structure_id":52969,"section_number":"58.1-418","catch_line":"Financial corporations; apportionment","url":"\/58.1-418\/","token":"58.1\/I\/3\/10\/58.1-418","metadata":false},{"id":372321,"structure_id":52969,"section_number":"58.1-419","catch_line":"Construction corporations; apportionment","url":"\/58.1-419\/","token":"58.1\/I\/3\/10\/58.1-419","metadata":false},{"id":372322,"structure_id":52969,"section_number":"58.1-420","catch_line":"Railway companies; apportionment","url":"\/58.1-420\/","token":"58.1\/I\/3\/10\/58.1-420","metadata":{"court_decisions":{"0":{"name":" .\u202f.\u202f. Commonwealth of Virginia, Department of Taxation v. FJ .\u202f.\u202f. ","case_number":"0701232","citation":null,"date":"2024-11-12","url":"https:\/\/www.courtlistener.com\/opinion\/10272400\/commonwealth-of-virginia-department-of-taxation-v-fj-management-inc\/","abstract":" .\u202f.\u202f. COURT OF APPEALS OF VIRGINIA .\u202f.\u202f. ","court_html":"<abbr title=\"Court of Appeals\">COA<\/abbr>"}}}},{"id":372323,"structure_id":52969,"section_number":"58.1-421","catch_line":"Alternative method of allocation","url":"\/58.1-421\/","token":"58.1\/I\/3\/10\/58.1-421","metadata":false},{"id":372329,"structure_id":52969,"section_number":"58.1-422","catch_line":"Manufacturing companies; apportionment","url":"\/58.1-422\/","token":"58.1\/I\/3\/10\/58.1-422","metadata":{"court_decisions":{"0":{"name":" .\u202f.\u202f. Commonwealth of Virginia, Department of Taxation v. 1887 .\u202f.\u202f. ","case_number":"0598222","citation":null,"date":"2023-05-23","url":"https:\/\/www.courtlistener.com\/opinion\/9401156\/commonwealth-of-virginia-department-of-taxation-v-1887-holdings-inc\/","abstract":" .\u202f.\u202f. COURT OF APPEALS OF VIRGINIA .\u202f.\u202f. ","court_html":"<abbr title=\"Court of Appeals\">COA<\/abbr>"}}}},{"id":372324,"structure_id":52969,"section_number":"58.1-422.1","catch_line":"Retail companies; apportionment","url":"\/58.1-422.1\/","token":"58.1\/I\/3\/10\/58.1-422.1","metadata":{"court_decisions":""}},{"id":372325,"structure_id":52969,"section_number":"58.1-422.2","catch_line":"Apportionment; taxpayers with enterprise data center operations","url":"\/58.1-422.2\/","token":"58.1\/I\/3\/10\/58.1-422.2","metadata":false},{"id":372326,"structure_id":52969,"section_number":"58.1-422.3","catch_line":"Debt buyers; apportionment","url":"\/58.1-422.3\/","token":"58.1\/I\/3\/10\/58.1-422.3","metadata":false},{"id":372327,"structure_id":52969,"section_number":"58.1-422.4","catch_line":"Property information and analytics firms","url":"\/58.1-422.4\/","token":"58.1\/I\/3\/10\/58.1-422.4","metadata":false},{"id":372328,"structure_id":52969,"section_number":"58.1-422.5","catch_line":"(Contingent effective date \u2014 See Editor's note) Internet root infrastructure providers","url":"\/58.1-422.5\/","token":"58.1\/I\/3\/10\/58.1-422.5","metadata":false},{"id":372330,"structure_id":52969,"section_number":"58.1-423","catch_line":"Income tax paid by commercial spaceflight entities","url":"\/58.1-423\/","token":"58.1\/I\/3\/10\/58.1-423","metadata":false}],"previous_section":{"id":372267,"structure_id":52969,"section_number":"58.1-409","catch_line":"Property factor","url":"\/58.1-409\/","token":"58.1\/I\/3\/10\/58.1-409","metadata":false},"next_section":{"id":372280,"structure_id":52969,"section_number":"58.1-411","catch_line":"Average value of property","url":"\/58.1-411\/","token":"58.1\/I\/3\/10\/58.1-411","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/58.1-410\/","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 1981, chapter 402; in 1984, chapter 675.<\/p>","references":false,"refers_to":false,"permalink":{"id":1480423,"object_type":"law","relational_id":372268,"identifier":"58.1-410","token":"58.1\/I\/3\/10\/58.1-410","url":"\/58.1-410\/","edition_id":2,"permalink":0,"preferred":1},"url":"\/58.1-410\/","token":"58.1\/I\/3\/10\/58.1-410","dublin_core":{"Title":"Valuation of property owned or rented","Type":"Text","Format":"text\/html","Identifier":"\u00a7 58.1-410","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t<section><p>Property owned by the <span class=\"dictionary\">corporation<\/span> shall be valued at its original cost plus the cost of additions and improvements. Property rented by the <span class=\"dictionary\">corporation<\/span> shall be valued at eight times the annual rental rate paid by the <span class=\"dictionary\">corporation<\/span>. The value of movable tangible personal property used both within and without the Commonwealth shall be included in the numerator to the extent of its utilization in the Commonwealth. The extent of such utilization shall be determined by multiplying the total value of such property by a fraction, the numerator of which is the number of days of physical location of the property in the Commonwealth during the taxable period and the denominator of which is the number of days of physical location of the property everywhere during the taxable period. The number of days of physical location of the property may be determined on a statistical basis or by such other reasonable method acceptable to the <span class=\"dictionary\">Department<\/span>.<\/p><\/section>","plain_text":"                                 CODE OF VIRGINIA\n\nVALUATION OF PROPERTY OWNED OR RENTED (\u00a7 58.1-410)\n\nProperty owned by the corporation shall be valued at its original cost plus the\ncost of additions and improvements. Property rented by the corporation shall be\nvalued at eight times the annual rental rate paid by the corporation. The value\nof movable tangible personal property used both within and without the\nCommonwealth shall be included in the numerator to the extent of its utilization\nin the Commonwealth. The extent of such utilization shall be determined by\nmultiplying the total value of such property by a fraction, the numerator of\nwhich is the number of days of physical location of the property in the\nCommonwealth during the taxable period and the denominator of which is the\nnumber of days of physical location of the property everywhere during the\ntaxable period. The number of days of physical location of the property may be\ndetermined on a statistical basis or by such other reasonable method acceptable\nto the Department.\n\nHISTORY: Code 1950, \u00a7 58-151.043; 1971, Ex. Sess., c. 171; 1981, c. 402; 1984,\nc. 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"}}