                                 CODE OF VIRGINIA

SEPARATE CLASSIFICATION OF MERCHANTS&#8217; CAPITAL OF PHARMACEUTICAL
WHOLESALERS (§ 58.1-3510.01)

Merchants&#8217; capital reported as inventory of pharmaceutical wholesalers
shall constitute a classification for local taxation separate from other
classifications of merchants&#8217; capital as defined in § 58.1-3510. The
governing body of any county, city or town may levy a tax on such inventory at
different rates from the tax levied on other merchants&#8217; capital. The rates
of tax and the rates of assessment shall not exceed that applicable generally to
merchants&#8217; capital.

HISTORY: 1997, c. 71.