{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/58.1-401.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/58.1-401.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/58.1-401.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/58.1-401.html"}],"law_id":75981,"edition_id":1,"section_id":75981,"structure_id":13460,"section_number":"58.1-401","catch_line":"Exemptions and exclusions","history":"Code 1950, \u00a7 58-151.03; 1971, Ex. Sess., c. 171; 1972, c. 310; 1978, cc. 159, 796; 1981, c. 402; 1984, c. 675; 1985, c. 221; 1987, c. 484; 1988, cc. 581, 899; 1995, cc. 422, 472; 1999, c. 971; 2014, cc. 26, 186.","full_text":"No tax levied pursuant to \u00a7 58.1-400, 58.1-400.1 or 58.1-400.2 is imposed on:\n\n1\n\nA public service corporation to the extent such corporation is subject to the license tax on gross receipts contained in Chapter 26 (§ 58.1-2600 et seq.) of this title;2\n\nInsurance companies to the extent such company is subject to the license tax on gross premiums under Chapter 25 (§ 58.1-2500 et seq.) of this title and reciprocal or interinsurance exchanges which pay a premium tax to the Commonwealth as provided by law;3\n\nState and national banks, banking associations and trust companies to the extent such companies are subject to the bank franchise tax on net capital;\n\t\t\t3a. Credit unions organized and conducted as such under the laws of the Commonwealth or under the laws of the United States;4\n\nElecting small business corporations (S corporations);5\n\nReligious, educational, benevolent and other corporations not organized or conducted for pecuniary profit which by reason of their purposes or activities are exempt from income tax under the laws of the United States, except those organizations which have unrelated business income or other taxable income under such laws, except as provided in § 58.1-400.2;6\n\nTelephone companies chartered in the Commonwealth which are exclusively a local mutual association and are not designated to accumulate profits for the benefit of, or to pay dividends to, the stockholders or members thereof;7\n\nA corporation that has contracted with a commercial printer for printing and that is not otherwise taxable shall not become taxable by reason of: (i) the ownership or leasing by that corporation of tangible personal property located at the Virginia premises of the commercial printer and used solely in connection with the printing contract with such person; (ii) the sale by that corporation at another location of property of any kind printed at and shipped or distributed from the Virginia premises of the commercial printer; (iii) the activities in connection with the printing contract with such person of any kind performed by or on behalf of that corporation at the Virginia premises of the commercial printer; and (iv) the activities in connection with the printing contract with such person performed by the commercial printer for or on behalf of that corporation;8\n\nForeign sales corporations (FSC) and any income attributable to an FSC under the rules relating to the taxation of an FSC in Part III, Subpart C of the Internal Revenue Code (§ 921 et seq.) and the regulations thereunder; and9\n\nFor taxable years beginning on or after January 1, 2014, domestic international sales corporations (DISC) under the rules relating to the taxation of a DISC in Part IV, Subpart A of the Internal Revenue Code (§ 991 et seq.) and the regulations thereunder.","order_by":null,"text":{"0":{"id":272767,"text":"No tax levied pursuant to \u00a7 58.1-400, 58.1-400.1 or 58.1-400.2 is imposed on:","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1,"next_prefix":"1"},"1":{"id":272768,"text":"A public service corporation to the extent such corporation is subject to the license tax on gross receipts contained in Chapter 26 (§ 58.1-2600 et seq.) of this title;","type":"section","prefixes":["1"],"prefix":"1","entire_prefix":"1","prefix_anchor":"1","level":1,"prior_prefix":"","next_prefix":"2"},"2":{"id":272769,"text":"Insurance companies to the extent such company is subject to the license tax on gross premiums under Chapter 25 (§ 58.1-2500 et seq.) of this title and reciprocal or interinsurance exchanges which pay a premium tax to the Commonwealth as provided by law;","type":"section","prefixes":["2"],"prefix":"2","entire_prefix":"2","prefix_anchor":"2","level":1,"prior_prefix":"1","next_prefix":"3"},"3":{"id":272770,"text":"State and national banks, banking associations and trust companies to the extent such companies are subject to the bank franchise tax on net capital;\n\t\t\t3a. Credit unions organized and conducted as such under the laws of the Commonwealth or under the laws of the United States;","type":"section","prefixes":["3"],"prefix":"3","entire_prefix":"3","prefix_anchor":"3","level":1,"prior_prefix":"2","next_prefix":"4"},"4":{"id":272771,"text":"Electing small business corporations (S corporations);","type":"section","prefixes":["4"],"prefix":"4","entire_prefix":"4","prefix_anchor":"4","level":1,"prior_prefix":"3","next_prefix":"5"},"5":{"id":272772,"text":"Religious, educational, benevolent and other corporations not organized or conducted for pecuniary profit which by reason of their purposes or activities are exempt from income tax under the laws of the United States, except those organizations which have unrelated business income or other taxable income under such laws, except as provided in § 58.1-400.2;","type":"section","prefixes":["5"],"prefix":"5","entire_prefix":"5","prefix_anchor":"5","level":1,"prior_prefix":"4","next_prefix":"6"},"6":{"id":272773,"text":"Telephone companies chartered in the Commonwealth which are exclusively a local mutual association and are not designated to accumulate profits for the benefit of, or to pay dividends to, the stockholders or members thereof;","type":"section","prefixes":["6"],"prefix":"6","entire_prefix":"6","prefix_anchor":"6","level":1,"prior_prefix":"5","next_prefix":"7"},"7":{"id":272774,"text":"A corporation that has contracted with a commercial printer for printing and that is not otherwise taxable shall not become taxable by reason of: (i) the ownership or leasing by that corporation of tangible personal property located at the Virginia premises of the commercial printer and used solely in connection with the printing contract with such person; (ii) the sale by that corporation at another location of property of any kind printed at and shipped or distributed from the Virginia premises of the commercial printer; (iii) the activities in connection with the printing contract with such person of any kind performed by or on behalf of that corporation at the Virginia premises of the commercial printer; and (iv) the activities in connection with the printing contract with such person performed by the commercial printer for or on behalf of that corporation;","type":"section","prefixes":["7"],"prefix":"7","entire_prefix":"7","prefix_anchor":"7","level":1,"prior_prefix":"6","next_prefix":"8"},"8":{"id":272775,"text":"Foreign sales corporations (FSC) and any income attributable to an FSC under the rules relating to the taxation of an FSC in Part III, Subpart C of the Internal Revenue Code (§ 921 et seq.) and the regulations thereunder; and","type":"section","prefixes":["8"],"prefix":"8","entire_prefix":"8","prefix_anchor":"8","level":1,"prior_prefix":"7","next_prefix":"9"},"9":{"id":272776,"text":"For taxable years beginning on or after January 1, 2014, domestic international sales corporations (DISC) under the rules relating to the taxation of a DISC in Part IV, Subpart A of the Internal Revenue Code (§ 991 et seq.) and the regulations thereunder.","type":"section","prefixes":["9"],"prefix":"9","entire_prefix":"9","prefix_anchor":"9","level":1,"prior_prefix":"8"}},"ancestry":[{"id":13460,"edition_id":1,"name":"Taxation of Corporations","identifier":"10","label":"article","depth":4,"order_by":1,"parent_id":13152,"metadata":{},"date_created":"2026-06-26 03:44:56","date_modified":"2026-06-26 03:44:56","permalink":{"id":253359,"object_type":"structure","relational_id":13460,"identifier":"10","token":"58.1\/I\/3\/10","url":"\/58.1\/I\/3\/10\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13152,"edition_id":1,"name":"Income Tax","identifier":"3","label":"chapter","depth":3,"order_by":1,"parent_id":12837,"metadata":{},"date_created":"2026-06-26 03:44:21","date_modified":"2026-06-26 03:44:21","permalink":{"id":253267,"object_type":"structure","relational_id":13152,"identifier":"3","token":"58.1\/I\/3","url":"\/58.1\/I\/3\/","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":60955,"structure_id":13460,"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":58533,"structure_id":13460,"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":77310,"structure_id":13460,"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":79891,"structure_id":13460,"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":85449,"structure_id":13460,"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":75981,"structure_id":13460,"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":56970,"structure_id":13460,"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":65538,"structure_id":13460,"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":61129,"structure_id":13460,"section_number":"58.1-404","catch_line":"Reserved","url":"\/58.1-404\/","token":"58.1\/I\/3\/10\/58.1-404","metadata":false},{"id":84403,"structure_id":13460,"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":56464,"structure_id":13460,"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":56080,"structure_id":13460,"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":false},{"id":56963,"structure_id":13460,"section_number":"58.1-407","catch_line":"How dividends allocated","url":"\/58.1-407\/","token":"58.1\/I\/3\/10\/58.1-407","metadata":false},{"id":86858,"structure_id":13460,"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":false},{"id":76197,"structure_id":13460,"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":54428,"structure_id":13460,"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":80735,"structure_id":13460,"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":60991,"structure_id":13460,"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":65358,"structure_id":13460,"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":74292,"structure_id":13460,"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":78515,"structure_id":13460,"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":55363,"structure_id":13460,"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":86205,"structure_id":13460,"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":71471,"structure_id":13460,"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":87267,"structure_id":13460,"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":61390,"structure_id":13460,"section_number":"58.1-420","catch_line":"Railway companies; apportionment","url":"\/58.1-420\/","token":"58.1\/I\/3\/10\/58.1-420","metadata":false},{"id":54421,"structure_id":13460,"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":75896,"structure_id":13460,"section_number":"58.1-422","catch_line":"Manufacturing companies; apportionment","url":"\/58.1-422\/","token":"58.1\/I\/3\/10\/58.1-422","metadata":false},{"id":56837,"structure_id":13460,"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":false},{"id":61386,"structure_id":13460,"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":54726,"structure_id":13460,"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":84482,"structure_id":13460,"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":76648,"structure_id":13460,"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":63840,"structure_id":13460,"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":85449,"structure_id":13460,"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},"next_section":{"id":56970,"structure_id":13460,"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},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/58.1-401\/","history_text":"

The record of this law\u2019s original creation isn\u2019t available online. It has been modified 10 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 1972, chapter 310; in 1978, chapters 159 and 796; in 1981, chapter 402; in 1984, chapter 675; in 1985, chapter 221; in 1987, chapter 484; in 1988, chapters 581 and 899; in 1995, chapters 422<\/a> and 472<\/a>; in 1999, chapter 971<\/a>; in 2014, chapters 26<\/a> and 186<\/a>.<\/p>","references":[{"id":71471,"section_number":"58.1-418","catch_line":"Financial corporations; apportionment","order_by":null,"url":"\/58.1-418\/"},{"id":72207,"section_number":"58.1-441","catch_line":"Reports by corporations","order_by":null,"url":"\/58.1-441\/"},{"id":69106,"section_number":"58.1-442","catch_line":"Separate, combined, or consolidated returns of affiliated corporations","order_by":null,"url":"\/58.1-442\/"}],"refers_to":[{"id":56221,"section_number":"58.1-2500","catch_line":"Definitions","order_by":null,"url":"\/58.1-2500\/"},{"id":85862,"section_number":"58.1-2600","catch_line":"Definitions","order_by":null,"url":"\/58.1-2600\/"},{"id":60955,"section_number":"58.1-400","catch_line":"Imposition of tax","order_by":null,"url":"\/58.1-400\/"},{"id":58533,"section_number":"58.1-400.1","catch_line":"Minimum tax on telecommunications companies","order_by":null,"url":"\/58.1-400.1\/"},{"id":77310,"section_number":"58.1-400.2","catch_line":"Taxation of electric suppliers, pipeline distribution companies, gas utilities, and gas suppliers","order_by":null,"url":"\/58.1-400.2\/"}],"permalink":{"id":253381,"object_type":"law","relational_id":75981,"identifier":"58.1-401","token":"58.1\/I\/3\/10\/58.1-401","url":"\/58.1-401\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/58.1-401\/","token":"58.1\/I\/3\/10\/58.1-401","dublin_core":{"Title":"Exemptions and exclusions","Type":"Text","Format":"text\/html","Identifier":"\u00a7 58.1-401","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

No tax levied pursuant to \u00a7 58.1-400<\/a>, 58.1-400.1<\/a> or 58.1-400.2<\/a> is imposed on:<\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> A public service corporation<\/span> to the extent such corporation<\/span> is subject to the license tax on gross receipts contained in Chapter 26 (§ 58.1-2600<\/a> et seq.) of this title; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> Insurance companies to the extent such company is subject to the license tax on gross premiums under Chapter 25 (§ 58.1-2500<\/a> et seq.) of this title and reciprocal or interinsurance exchanges which pay a premium tax to the Commonwealth as provided by law<\/span>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> State and national banks, banking associations and trust<\/span> companies to the extent such companies are subject to the bank franchise tax on net capital;\n\t\t\t3a. Credit unions organized and conducted as such under the laws<\/span> of the Commonwealth or under the laws<\/span> of the United States; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

4.<\/span> Electing small business corporations<\/span> (S corporations<\/span>); <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

5.<\/span> Religious, educational, benevolent and other corporations<\/span> not organized or conducted for pecuniary profit which by reason of their purposes or activities are exempt from income tax under the laws<\/span> of the United States, except those organizations which have unrelated business income or other taxable income under such laws<\/span>, except as provided in § 58.1-400.2<\/a>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

6.<\/span> Telephone companies chartered in the Commonwealth which are exclusively a local mutual association and are not designated to accumulate profits for the benefit of, or to pay dividends to, the stockholders or members thereof; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

7.<\/span> A corporation<\/span> that has contracted with a commercial printer for printing and that is not otherwise taxable shall not become taxable by reason of: (i) the ownership or leasing by that corporation<\/span> of tangible personal property located at the Virginia premises of the commercial printer and used solely in connection with the printing contract<\/span> with such person; (ii) the sale by that corporation<\/span> at another location of property of any kind printed at and shipped or distributed from the Virginia premises of the commercial printer; (iii) the activities in connection with the printing contract<\/span> with such person of any kind performed by or on behalf of that corporation<\/span> at the Virginia premises of the commercial printer; and (iv) the activities in connection with the printing contract<\/span> with such person performed by the commercial printer for or on behalf of that corporation<\/span>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

8.<\/span> Foreign sales<\/span> corporations<\/span> (FSC) and any income attributable to an FSC under the rules relating to the taxation of an FSC in Part III, Subpart C of the Internal Revenue Code (§ 921 et seq.) and the regulations thereunder; and <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

9.<\/span> For taxable years beginning on or after January 1, 2014, domestic international sales<\/span> corporations<\/span> (DISC) under the rules relating to the taxation of a DISC in Part IV, Subpart A of the Internal Revenue Code (§ 991 et seq.) and the regulations thereunder. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nEXEMPTIONS AND EXCLUSIONS (\u00a7 58.1-401)\n\nNo tax levied pursuant to \u00a7 58.1-400, 58.1-400.1 or 58.1-400.2 is imposed on:\n\n1. A public service corporation to the extent such corporation is subject to the\nlicense tax on gross receipts contained in Chapter 26 (§ 58.1-2600 et seq.)\nof this title;\n\n2. Insurance companies to the extent such company is subject to the license tax\non gross premiums under Chapter 25 (§ 58.1-2500 et seq.) of this title and\nreciprocal or interinsurance exchanges which pay a premium tax to the\nCommonwealth as provided by law;\n\n3. State and national banks, banking associations and trust companies to the\nextent such companies are subject to the bank franchise tax on net capital;\n\t\t\t3a. Credit unions organized and conducted as such under the laws of the\nCommonwealth or under the laws of the United States;\n\n4. Electing small business corporations (S corporations);\n\n5. Religious, educational, benevolent and other corporations not organized or\nconducted for pecuniary profit which by reason of their purposes or activities\nare exempt from income tax under the laws of the United States, except those\norganizations which have unrelated business income or other taxable income under\nsuch laws, except as provided in § 58.1-400.2;\n\n6. Telephone companies chartered in the Commonwealth which are exclusively a\nlocal mutual association and are not designated to accumulate profits for the\nbenefit of, or to pay dividends to, the stockholders or members thereof;\n\n7. A corporation that has contracted with a commercial printer for printing and\nthat is not otherwise taxable shall not become taxable by reason of: (i) the\nownership or leasing by that corporation of tangible personal property located\nat the Virginia premises of the commercial printer and used solely in connection\nwith the printing contract with such person; (ii) the sale by that corporation\nat another location of property of any kind printed at and shipped or\ndistributed from the Virginia premises of the commercial printer; (iii) the\nactivities in connection with the printing contract with such person of any kind\nperformed by or on behalf of that corporation at the Virginia premises of the\ncommercial printer; and (iv) the activities in connection with the printing\ncontract with such person performed by the commercial printer for or on behalf\nof that corporation;\n\n8. Foreign sales corporations (FSC) and any income attributable to an FSC under\nthe rules relating to the taxation of an FSC in Part III, Subpart C of the\nInternal Revenue Code (§ 921 et seq.) and the regulations thereunder; and\n\n9. For taxable years beginning on or after January 1, 2014, domestic\ninternational sales corporations (DISC) under the rules relating to the taxation\nof a DISC in Part IV, Subpart A of the Internal Revenue Code (§ 991 et\nseq.) and the regulations thereunder.\n\nHISTORY: Code 1950, \u00a7 58-151.03; 1971, Ex. Sess., c. 171; 1972, c. 310; 1978,\ncc. 159, 796; 1981, c. 402; 1984, c. 675; 1985, c. 221; 1987, c. 484; 1988, cc.\n581, 899; 1995, cc. 422, 472; 1999, c. 971; 2014, cc. 26, 186.","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}}