{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/58.1-409.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/58.1-409.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/58.1-409.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/58.1-409.html"}],"law_id":76197,"edition_id":1,"section_id":76197,"structure_id":13460,"section_number":"58.1-409","catch_line":"Property factor","history":"Code 1950, \u00a7 58-151.042; 1971, Ex. Sess., c. 171; 1978, c. 184; 1981, c. 402; 1984, c. 675.","full_text":"The property factor is a fraction, the numerator of which is the average value of the corporation&#8217;s real and tangible personal property owned and used or rented and used in the Commonwealth during the taxable year and the denominator of which is the average value of all the corporation&#8217;s real and tangible personal property owned and used or rented and used during the taxable year and located everywhere, to the extent that such property is used to produce Virginia taxable income and is effectively connected with the conduct of a trade or business within the United States and income therefrom is includable in federal taxable income.","order_by":null,"text":{"0":{"id":273637,"text":"The property factor is a fraction, the numerator of which is the average value of the corporation&#8217;s real and tangible personal property owned and used or rented and used in the Commonwealth during the taxable year and the denominator of which is the average value of all the corporation&#8217;s real and tangible personal property owned and used or rented and used during the taxable year and located everywhere, to the extent that such property is used to produce Virginia taxable income and is effectively connected with the conduct of a trade or business within the United States and income therefrom is includable in federal taxable income.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"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 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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 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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 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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 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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":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},"next_section":{"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},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/58.1-409\/","history_text":"<p>The record of this law\u2019s original creation isn\u2019t available online. It has been modified 3 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 1978, chapter 184; in 1981, chapter 402; in 1984, chapter 675.<\/p>","references":[{"id":73898,"section_number":"59.1-280","catch_line":"Enterprise zone business tax credit","order_by":null,"url":"\/59.1-280\/"}],"refers_to":false,"permalink":{"id":253417,"object_type":"law","relational_id":76197,"identifier":"58.1-409","token":"58.1\/I\/3\/10\/58.1-409","url":"\/58.1-409\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/58.1-409\/","token":"58.1\/I\/3\/10\/58.1-409","dublin_core":{"Title":"Property factor","Type":"Text","Format":"text\/html","Identifier":"\u00a7 58.1-409","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t<section><p>The property factor is a fraction, the numerator of which is the average value of the <span class=\"dictionary\">corporation<\/span>&#8217;s real and tangible personal property owned and used or rented and used in the Commonwealth during the taxable year and the denominator of which is the average value of all the <span class=\"dictionary\">corporation<\/span>&#8217;s real and tangible personal property owned and used or rented and used during the taxable year and located everywhere, to the extent that such property is used to produce Virginia taxable income and is effectively connected with the conduct of a trade or business within the United States and income therefrom is includable in federal taxable income.<\/p><\/section>","plain_text":"                                 CODE OF VIRGINIA\n\nPROPERTY FACTOR (\u00a7 58.1-409)\n\nThe property factor is a fraction, the numerator of which is the average value\nof the corporation&#8217;s real and tangible personal property owned and used or\nrented and used in the Commonwealth during the taxable year and the denominator\nof which is the average value of all the corporation&#8217;s real and tangible\npersonal property owned and used or rented and used during the taxable year and\nlocated everywhere, to the extent that such property is used to produce Virginia\ntaxable income and is effectively connected with the conduct of a trade or\nbusiness within the United States and income therefrom is includable in federal\ntaxable income.\n\nHISTORY: Code 1950, \u00a7 58-151.042; 1971, Ex. Sess., c. 171; 1978, c. 184; 1981,\nc. 402; 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}}