                                 CODE OF VIRGINIA

TAXATION (§ 13.1-311)

Every cooperative association, society, company and exchange created under the
provisions of this article and every cooperative marketing association or
corporation and every general corporation that may be brought under the
provisions of this article, whether such association, society, company, exchange
or corporation be organized or brought under this article prior or subsequent to
the date of the approval of this section and whether chartered under the laws of
this Commonwealth or otherwise chartered and doing business in this
Commonwealth, and conducting a mercantile, merchandise or brokerage business on
the cooperative plan shall be taxable as a merchant by the Commonwealth, and by
the city or town within which such business is done. Nothing in this article
shall exempt any such organization from any state or local merchant&#8217;s
license tax.

HISTORY: 1950, c. 365; 1956, c. 428.