{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/13.1-1120.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/13.1-1120.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/13.1-1120.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/13.1-1120.html"}],"law_id":72527,"edition_id":1,"section_id":72527,"structure_id":13722,"section_number":"13.1-1120","catch_line":"Income and property taxes","history":"1992, c. 574.","full_text":"All professional limited liability companies organized or qualifying under the provisions of this chapter shall be treated for income tax purposes under the provisions of Chapter 3 (\u00a7 58.1-300 et seq.) of Title 58.1 in the manner determined under \u00a7 58.1-301, and property owned by professional limited liability companies shall be taxed in the actual form in which it may exist and not as capital.","order_by":null,"text":{"0":{"id":261163,"text":"All professional limited liability companies organized or qualifying under the provisions of this chapter shall be treated for income tax purposes under the provisions of Chapter 3 (\u00a7 58.1-300 et seq.) of Title 58.1 in the manner determined under \u00a7 58.1-301, and property owned by professional limited liability companies shall be taxed in the actual form in which it may exist and not as capital.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"ancestry":[{"id":13722,"edition_id":1,"name":"Virginia Professional Limited Liability Company Act","identifier":"13","label":"chapter","depth":2,"order_by":1,"parent_id":12744,"metadata":{},"date_created":"2026-06-26 03:45:40","date_modified":"2026-06-26 03:45:40","permalink":{"id":149009,"object_type":"structure","relational_id":13722,"identifier":"13","token":"13.1\/13","url":"\/13.1\/13\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12744,"edition_id":1,"name":"Corporations","identifier":"13.1","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:51","date_modified":"2026-06-26 03:43:51","permalink":{"id":147493,"object_type":"structure","relational_id":12744,"identifier":"13.1","token":"13.1","url":"\/13.1\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":83306,"structure_id":13722,"section_number":"13.1-1100","catch_line":"Reservation of power to amend or repeal","url":"\/13.1-1100\/","token":"13.1\/13\/13.1-1100","metadata":false},{"id":67914,"structure_id":13722,"section_number":"13.1-1101","catch_line":"Legislative purpose","url":"\/13.1-1101\/","token":"13.1\/13\/13.1-1101","metadata":false},{"id":80168,"structure_id":13722,"section_number":"13.1-1101.1","catch_line":"Practice of certain professions by limited liability companies","url":"\/13.1-1101.1\/","token":"13.1\/13\/13.1-1101.1","metadata":false},{"id":57431,"structure_id":13722,"section_number":"13.1-1102","catch_line":"Definitions","url":"\/13.1-1102\/","token":"13.1\/13\/13.1-1102","metadata":false},{"id":65629,"structure_id":13722,"section_number":"13.1-1103","catch_line":"Who may become a member","url":"\/13.1-1103\/","token":"13.1\/13\/13.1-1103","metadata":false},{"id":70376,"structure_id":13722,"section_number":"13.1-1104","catch_line":"Use of initials \"P.L.C.,\" \"PLC,\" \"P.L.L.C.\" or \"PLLC\" in company name","url":"\/13.1-1104\/","token":"13.1\/13\/13.1-1104","metadata":false},{"id":71407,"structure_id":13722,"section_number":"13.1-1105","catch_line":"Certificate of authority for foreign professional limited liability company","url":"\/13.1-1105\/","token":"13.1\/13\/13.1-1105","metadata":false},{"id":54716,"structure_id":13722,"section_number":"13.1-1106","catch_line":"Merger with foreign professional limited liability company or foreign professional corporation","url":"\/13.1-1106\/","token":"13.1\/13\/13.1-1106","metadata":false},{"id":62219,"structure_id":13722,"section_number":"13.1-1107","catch_line":"How limited liability company may render professional services; nonprofessional employees and agents; members and managers need not be employees, etc","url":"\/13.1-1107\/","token":"13.1\/13\/13.1-1107","metadata":false},{"id":62134,"structure_id":13722,"section_number":"13.1-1108","catch_line":"Professional law limited liability company may qualify as executor, administrator or in other fiduciary capacity","url":"\/13.1-1108\/","token":"13.1\/13\/13.1-1108","metadata":false},{"id":54790,"structure_id":13722,"section_number":"13.1-1109","catch_line":"Professional relationships not affected; liability for debts, etc., of limited liability company, its members, managers, employees, and agents","url":"\/13.1-1109\/","token":"13.1\/13\/13.1-1109","metadata":false},{"id":62964,"structure_id":13722,"section_number":"13.1-1110","catch_line":"Professional limited liability company not to engage in other business; investment of funds","url":"\/13.1-1110\/","token":"13.1\/13\/13.1-1110","metadata":false},{"id":70033,"structure_id":13722,"section_number":"13.1-1111","catch_line":"Qualifications of members and managers; special provisions for limited liability companies rendering service of architects, professional engineers, land surveyors and landscape architects, and using the title of certified interior designers","url":"\/13.1-1111\/","token":"13.1\/13\/13.1-1111","metadata":false},{"id":80980,"structure_id":13722,"section_number":"13.1-1112","catch_line":"Special provision for limited liability company engaged in practice of accounting","url":"\/13.1-1112\/","token":"13.1\/13\/13.1-1112","metadata":false},{"id":78944,"structure_id":13722,"section_number":"13.1-1113","catch_line":"Registration certificate required for limited liability company engaged in practice of law","url":"\/13.1-1113\/","token":"13.1\/13\/13.1-1113","metadata":false},{"id":56941,"structure_id":13722,"section_number":"13.1-1114","catch_line":"Repealed","url":"\/13.1-1114\/","token":"13.1\/13\/13.1-1114","metadata":false},{"id":76113,"structure_id":13722,"section_number":"13.1-1115","catch_line":"Transfer of membership interests","url":"\/13.1-1115\/","token":"13.1\/13\/13.1-1115","metadata":false},{"id":73170,"structure_id":13722,"section_number":"13.1-1116","catch_line":"Disqualification of member, manager, agent or employee","url":"\/13.1-1116\/","token":"13.1\/13\/13.1-1116","metadata":false},{"id":59572,"structure_id":13722,"section_number":"13.1-1117","catch_line":"Conversion into nonprofessional company; disposition of membership interests of deceased or disqualified members","url":"\/13.1-1117\/","token":"13.1\/13\/13.1-1117","metadata":false},{"id":82390,"structure_id":13722,"section_number":"13.1-1118","catch_line":"Management","url":"\/13.1-1118\/","token":"13.1\/13\/13.1-1118","metadata":false},{"id":74108,"structure_id":13722,"section_number":"13.1-1119","catch_line":"Repealed","url":"\/13.1-1119\/","token":"13.1\/13\/13.1-1119","metadata":false},{"id":72527,"structure_id":13722,"section_number":"13.1-1120","catch_line":"Income and property taxes","url":"\/13.1-1120\/","token":"13.1\/13\/13.1-1120","metadata":false},{"id":77894,"structure_id":13722,"section_number":"13.1-1121","catch_line":"Merger","url":"\/13.1-1121\/","token":"13.1\/13\/13.1-1121","metadata":false},{"id":67429,"structure_id":13722,"section_number":"13.1-1122","catch_line":"Application of Chapter 12 of this title","url":"\/13.1-1122\/","token":"13.1\/13\/13.1-1122","metadata":false},{"id":83643,"structure_id":13722,"section_number":"13.1-1123","catch_line":"Coordination with other provisions of Virginia Code","url":"\/13.1-1123\/","token":"13.1\/13\/13.1-1123","metadata":false}],"previous_section":{"id":74108,"structure_id":13722,"section_number":"13.1-1119","catch_line":"Repealed","url":"\/13.1-1119\/","token":"13.1\/13\/13.1-1119","metadata":false},"next_section":{"id":77894,"structure_id":13722,"section_number":"13.1-1121","catch_line":"Merger","url":"\/13.1-1121\/","token":"13.1\/13\/13.1-1121","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/13.1-1120\/","history_text":"<p>This law was first created in 1992. The record of its establishment is cataloged in chapter 574 of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year. Unfortunately, the 1992 \u201cActs\u201d aren\u2019t available online.<\/p>","references":false,"refers_to":[{"id":55031,"section_number":"58.1-300","catch_line":"Incomes not subject to local taxation","order_by":null,"url":"\/58.1-300\/"},{"id":75208,"section_number":"58.1-301","catch_line":"(Applicable to taxable years beginning on and after January 1, 2023) Conformity to Internal Revenue Code","order_by":null,"url":"\/58.1-301\/"}],"permalink":{"id":149095,"object_type":"law","relational_id":72527,"identifier":"13.1-1120","token":"13.1\/13\/13.1-1120","url":"\/13.1-1120\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/13.1-1120\/","token":"13.1\/13\/13.1-1120","dublin_core":{"Title":"Income and property taxes","Type":"Text","Format":"text\/html","Identifier":"\u00a7 13.1-1120","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t<section><p>All professional limited liability companies organized or qualifying under the provisions of this chapter shall be treated for income tax purposes under the provisions of Chapter 3 (\u00a7&nbsp;<a class=\"law\" title=\"Incomes not subject to local taxation\" href=\"\/58.1-300\/\">58.1-300<\/a> et seq.) of Title 58.1 in the manner determined under \u00a7&nbsp;<a class=\"law\" title=\"(Applicable to taxable years beginning on and after January 1, 2023) Conformity to Internal Revenue Code\" href=\"\/58.1-301\/\">58.1-301<\/a>, and property owned by professional limited liability companies shall be taxed in the actual form in which it may exist and not as capital.<\/p><\/section>","plain_text":"                                 CODE OF VIRGINIA\n\nINCOME AND PROPERTY TAXES (\u00a7 13.1-1120)\n\nAll professional limited liability companies organized or qualifying under the\nprovisions of this chapter shall be treated for income tax purposes under the\nprovisions of Chapter 3 (\u00a7 58.1-300 et seq.) of Title 58.1 in the manner\ndetermined under \u00a7 58.1-301, and property owned by professional limited\nliability companies shall be taxed in the actual form in which it may exist and\nnot as capital.\n\nHISTORY: 1992, c. 574.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}