§ 58.1-3510.01 Separate classification of merchants’ capital of pharmaceutical wholesalers
Merchants’ capital reported as inventory of pharmaceutical wholesalers shall constitute a classification for local taxation separate from other classifications of merchants’ capital as defined in § 58.1-3510. The governing body of any county, city or town may levy a tax on such inventory at different rates from the tax levied on other merchants’ capital. The rates of tax and the rates of assessment shall not exceed that applicable generally to merchants’ capital.
History
This law was first created in 1997. The record of its establishment is cataloged in chapter 71 of that year’s edition of “Acts of Assembly,” the annual state publication listing all changes made to the Code of Virginia in that year.
1997, c. 71.