                                 CODE OF VIRGINIA

SPECIAL REVENUE TAX; LEVY (§ 58.1-2660)

A. In addition to any other taxes upon the subjects of taxation listed herein,
there is hereby levied, subject to the provisions of § 58.1-2664, a special
regulatory revenue tax equal to twenty-six hundredths of one percent of the
gross receipts such person receives from business done within the Commonwealth
upon:

   1. Corporations furnishing water, heat, light or power, by means of gas or
   steam, except for electric suppliers, gas utilities, and gas suppliers as
   defined in &#xA7; 58.1-400.2 and pipeline distribution companies as defined in
   &#xA7; 58.1-2600;

   2. Telegraph companies owning and operating a telegraph line apparatus
   necessary to communicate by telecommunications in the Commonwealth;

   3. Telephone companies whose gross receipts from business done within the
   Commonwealth exceed $50,000 or a company, the majority of stock or other
   property of which is owned or controlled by another telephone company, whose
   gross receipts exceed the amount set forth herein;

   4. The Virginia Pilots&#8217; Association;

   5. Railroads, except those exempt by virtue of federal law from the payment of
   state taxes, subject to the provisions of &#xA7; 58.1-2661;

   6. Common carriers of passengers by motor vehicle, except urban and suburban
   bus lines, a majority of whose passengers use the buses for traveling a daily
   distance of not more than 40 miles measured one way between their place of
   work, school or recreation and their place of abode; and

   7. Any county, city or town that obtains a certificate pursuant to &#xA7;
   56-265.4:4.

B. Notwithstanding the rate specified in subsection A, the maximum rate of the
special regulatory revenue tax shall be increased above such specified rate to
the extent necessary to permit the Commission to recover the additional costs
incurred by the Commission in implementing subdivision B 4 of &#xA7; 56-265.4:4
that cannot be recovered through the specified rate.

HISTORY: Code 1950, §§ 58-660 through 58-667; 1958, c. 157; 1970, c. 773;
1979, c. 443; 1980, c. 282; 1982, c. 62; 1983, c. 547; 1984, c. 675; 1988, c.
899; 1990, c. 146; 1996, c. 381; 1999, c. 971; 2000, cc. 691, 706; 2002, cc.
479, 489; 2003, c. 720; 2020, c. 697.