{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/58.1-1211.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/58.1-1211.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/58.1-1211.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/58.1-1211.html"}],"law_id":68169,"edition_id":1,"section_id":68169,"structure_id":13696,"section_number":"58.1-1211","catch_line":"Branch banks","history":"Code 1950, \u00a7 58-485.012; 1980, c. 578; 1984, c. 675.","full_text":"If any bank has offices located in two or more political subdivisions, which includes cities, towns and counties, the tax which may be imposed by any subdivision under \u00a7\u00a7 58.1-1208, 58.1-1209 or \u00a7 58.1-1210 shall be imposed upon only such proportion of the taxable value of the net capital under \u00a7 58.1-1204 as the total deposits of such bank, or offices located inside the taxing subdivision, bears to total deposits as of the end of the preceding year. For the purposes of this section, offices located within an incorporated town shall be deemed not within the county where such banks are located.","order_by":null,"text":{"0":{"id":246752,"text":"If any bank has offices located in two or more political subdivisions, which includes cities, towns and counties, the tax which may be imposed by any subdivision under \u00a7\u00a7 58.1-1208, 58.1-1209 or \u00a7 58.1-1210 shall be imposed upon only such proportion of the taxable value of the net capital under \u00a7 58.1-1204 as the total deposits of such bank, or offices located inside the taxing subdivision, bears to total deposits as of the end of the preceding year. For the purposes of this section, offices located within an incorporated town shall be deemed not within the county where such banks are located.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"ancestry":[{"id":13696,"edition_id":1,"name":"Bank Franchise Tax","identifier":"12","label":"chapter","depth":3,"order_by":1,"parent_id":12837,"metadata":{},"date_created":"2026-06-26 03:45:35","date_modified":"2026-06-26 03:45:35","permalink":{"id":252449,"object_type":"structure","relational_id":13696,"identifier":"12","token":"58.1\/I\/12","url":"\/58.1\/I\/12\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12837,"edition_id":1,"name":"Taxes Administered by the Department of Taxation","identifier":"I","label":"subtitle","depth":2,"order_by":1,"parent_id":12703,"metadata":{},"date_created":"2026-06-26 03:43:55","date_modified":"2026-06-26 03:43:55","permalink":{"id":252075,"object_type":"structure","relational_id":12837,"identifier":"I","token":"58.1\/I","url":"\/58.1\/I\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12703,"edition_id":1,"name":"Taxation","identifier":"58.1","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:49","date_modified":"2026-06-26 03:43:49","permalink":{"id":251959,"object_type":"structure","relational_id":12703,"identifier":"58.1","token":"58.1","url":"\/58.1\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":54678,"structure_id":13696,"section_number":"58.1-1200","catch_line":"Title","url":"\/58.1-1200\/","token":"58.1\/I\/12\/58.1-1200","metadata":false},{"id":83617,"structure_id":13696,"section_number":"58.1-1201","catch_line":"Definitions","url":"\/58.1-1201\/","token":"58.1\/I\/12\/58.1-1201","metadata":false},{"id":87019,"structure_id":13696,"section_number":"58.1-1202","catch_line":"Bank capital assessable","url":"\/58.1-1202\/","token":"58.1\/I\/12\/58.1-1202","metadata":false},{"id":64855,"structure_id":13696,"section_number":"58.1-1203","catch_line":"Real and leased tangible personal property of banks to be assessed as other real and personal property","url":"\/58.1-1203\/","token":"58.1\/I\/12\/58.1-1203","metadata":false},{"id":62498,"structure_id":13696,"section_number":"58.1-1204","catch_line":"Rate of tax","url":"\/58.1-1204\/","token":"58.1\/I\/12\/58.1-1204","metadata":false},{"id":84538,"structure_id":13696,"section_number":"58.1-1204.1","catch_line":"Proration for new banks","url":"\/58.1-1204.1\/","token":"58.1\/I\/12\/58.1-1204.1","metadata":false},{"id":61811,"structure_id":13696,"section_number":"58.1-1205","catch_line":"Computation of net capital","url":"\/58.1-1205\/","token":"58.1\/I\/12\/58.1-1205","metadata":false},{"id":69371,"structure_id":13696,"section_number":"58.1-1206","catch_line":"(Effective July 1, 2025) Deductions from gross capital","url":"\/58.1-1206\/","token":"58.1\/I\/12\/58.1-1206","metadata":false},{"id":68247,"structure_id":13696,"section_number":"58.1-1207","catch_line":"(Effective July 1, 2025) Filing of return and payment of tax","url":"\/58.1-1207\/","token":"58.1\/I\/12\/58.1-1207","metadata":false},{"id":55757,"structure_id":13696,"section_number":"58.1-1208","catch_line":"City tax","url":"\/58.1-1208\/","token":"58.1\/I\/12\/58.1-1208","metadata":false},{"id":62525,"structure_id":13696,"section_number":"58.1-1209","catch_line":"Town tax","url":"\/58.1-1209\/","token":"58.1\/I\/12\/58.1-1209","metadata":false},{"id":73068,"structure_id":13696,"section_number":"58.1-1210","catch_line":"County tax","url":"\/58.1-1210\/","token":"58.1\/I\/12\/58.1-1210","metadata":false},{"id":68169,"structure_id":13696,"section_number":"58.1-1211","catch_line":"Branch banks","url":"\/58.1-1211\/","token":"58.1\/I\/12\/58.1-1211","metadata":false},{"id":84743,"structure_id":13696,"section_number":"58.1-1212","catch_line":"(Effective July 1, 2025) Record of deposits through branches required","url":"\/58.1-1212\/","token":"58.1\/I\/12\/58.1-1212","metadata":false},{"id":63356,"structure_id":13696,"section_number":"58.1-1213","catch_line":"Credit against state tax for amounts paid cities, towns and counties","url":"\/58.1-1213\/","token":"58.1\/I\/12\/58.1-1213","metadata":false},{"id":78742,"structure_id":13696,"section_number":"58.1-1214","catch_line":"Auditing of returns","url":"\/58.1-1214\/","token":"58.1\/I\/12\/58.1-1214","metadata":false},{"id":81407,"structure_id":13696,"section_number":"58.1-1215","catch_line":"Banks in liquidation","url":"\/58.1-1215\/","token":"58.1\/I\/12\/58.1-1215","metadata":false},{"id":80724,"structure_id":13696,"section_number":"58.1-1216","catch_line":"Penalty upon bank for failure to comply with chapter","url":"\/58.1-1216\/","token":"58.1\/I\/12\/58.1-1216","metadata":false},{"id":61598,"structure_id":13696,"section_number":"58.1-1217","catch_line":"State banks and national banks treated the same in matter of taxation","url":"\/58.1-1217\/","token":"58.1\/I\/12\/58.1-1217","metadata":false}],"previous_section":{"id":73068,"structure_id":13696,"section_number":"58.1-1210","catch_line":"County tax","url":"\/58.1-1210\/","token":"58.1\/I\/12\/58.1-1210","metadata":false},"next_section":{"id":84743,"structure_id":13696,"section_number":"58.1-1212","catch_line":"(Effective July 1, 2025) Record of deposits through branches required","url":"\/58.1-1212\/","token":"58.1\/I\/12\/58.1-1212","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/58.1-1211\/","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 1980, chapter 578; in 1984, chapter 675.<\/p>","references":[{"id":68247,"section_number":"58.1-1207","catch_line":"(Effective July 1, 2025) Filing of return and payment of tax","order_by":null,"url":"\/58.1-1207\/"},{"id":55757,"section_number":"58.1-1208","catch_line":"City tax","order_by":null,"url":"\/58.1-1208\/"},{"id":62525,"section_number":"58.1-1209","catch_line":"Town tax","order_by":null,"url":"\/58.1-1209\/"},{"id":73068,"section_number":"58.1-1210","catch_line":"County tax","order_by":null,"url":"\/58.1-1210\/"}],"refers_to":[{"id":62498,"section_number":"58.1-1204","catch_line":"Rate of tax","order_by":null,"url":"\/58.1-1204\/"},{"id":55757,"section_number":"58.1-1208","catch_line":"City tax","order_by":null,"url":"\/58.1-1208\/"},{"id":62525,"section_number":"58.1-1209","catch_line":"Town tax","order_by":null,"url":"\/58.1-1209\/"},{"id":73068,"section_number":"58.1-1210","catch_line":"County tax","order_by":null,"url":"\/58.1-1210\/"}],"permalink":{"id":252499,"object_type":"law","relational_id":68169,"identifier":"58.1-1211","token":"58.1\/I\/12\/58.1-1211","url":"\/58.1-1211\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/58.1-1211\/","token":"58.1\/I\/12\/58.1-1211","dublin_core":{"Title":"Branch banks","Type":"Text","Format":"text\/html","Identifier":"\u00a7 58.1-1211","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t<section><p>If any <span class=\"dictionary\">bank<\/span> has offices located in two or more political subdivisions, which includes cities, towns and counties, the tax which may be imposed by any subdivision under \u00a7\u00a7&nbsp;<a class=\"law\" title=\"City tax\" href=\"\/58.1-1208\/\">58.1-1208<\/a>, <a class=\"law\" title=\"Town tax\" href=\"\/58.1-1209\/\">58.1-1209<\/a> or \u00a7&nbsp;<a class=\"law\" title=\"County tax\" href=\"\/58.1-1210\/\">58.1-1210<\/a> shall be imposed upon only such proportion of the taxable value of the net capital under \u00a7&nbsp;<a class=\"law\" title=\"Rate of tax\" href=\"\/58.1-1204\/\">58.1-1204<\/a> as the total deposits of such <span class=\"dictionary\">bank<\/span>, or offices located inside the taxing subdivision, bears to total deposits as of the end of the preceding year. For the purposes of this section, offices located within an incorporated town shall be deemed not within the county where such <span class=\"dictionary\">banks<\/span> are located.<\/p><\/section>","plain_text":"                                 CODE OF VIRGINIA\n\nBRANCH BANKS (\u00a7 58.1-1211)\n\nIf any bank has offices located in two or more political subdivisions, which\nincludes cities, towns and counties, the tax which may be imposed by any\nsubdivision under \u00a7\u00a7 58.1-1208, 58.1-1209 or \u00a7 58.1-1210 shall be imposed\nupon only such proportion of the taxable value of the net capital under \u00a7\n58.1-1204 as the total deposits of such bank, or offices located inside the\ntaxing subdivision, bears to total deposits as of the end of the preceding year.\nFor the purposes of this section, offices located within an incorporated town\nshall be deemed not within the county where such banks are located.\n\nHISTORY: Code 1950, \u00a7 58-485.012; 1980, c. 578; 1984, c. 675.","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}}