                                 CODE OF VIRGINIA

TAXPAYERS TO FILE RETURNS (§ 58.1-3518)

Every taxpayer owning any of the property subject to taxation under this chapter
on January 1 of any year shall file a return thereof with the commissioner of
the revenue for his county or city on the appropriate forms; however, the
commissioner of the revenue may elect not to require such a return from any
taxpayer who owns such property which does not have sufficient value to generate
a tax assessment. Every person who leases any of such property from the owner
thereof on such date shall file a return with the commissioner of the revenue of
the county or city wherein such property is located giving the name and address
of the owner, except any person leasing a motor vehicle which is subject to the
tax imposed under § 58.1-2402. Such returns shall be filed on or before May 1
of each year, except as otherwise provided by ordinance authorized by §
58.1-3916.
		Every fiduciary shall file the returns mentioned in this chapter with the
commissioner of revenue having jurisdiction. Every taxpayer owning machinery and
tools or business personal property, if requested by the commissioner of the
revenue, shall include on his annual return of such property information as to
the total of original cost by year of purchase. The cost should be the original
capitalized cost or the cost that would have been capitalized if the expense
deduction in lieu of depreciation was elected under § 179 of the Internal
Revenue Code.

HISTORY: Code 1950, § 58-837; 1974, c. 387; 1976, c. 547; 1978, c. 393; 1980,
c. 317; 1984, c. 675; 1990, c. 705; 1995, c. 29.