                                 CODE OF VIRGINIA

AUTHORITY OF COUNTIES, CITIES AND TOWNS (§ 58.1-3702)

The provisions of this chapter shall be the sole authority for counties, cities
and towns for the levying of the license taxes described herein. Except as
provided herein, the governing body of every county, city and town that levies
such license tax may impose the tax on the gross receipts or the Virginia
taxable income of the business. Virginia taxable income shall be calculated
pursuant to the provisions of § 58.1-322 or 58.1-402, whichever is applicable
to the business. Throughout this chapter, except in § 58.1-3731, wherever the
term &#8220;gross receipts&#8221; is used, the term &#8220;Virginia taxable
income&#8221; shall be substituted whenever a county, city or town selects it as
the base on which to levy the license tax.

HISTORY: Code 1950, § 58-266.1; 1950, p. 155; 1956, c. 242; 1964, c. 424; 1968,
c. 619; 1970, cc. 231, 547; 1974, cc. 196, 438; 1975, cc. 23, 621; 1976, cc.
521, 719; 1977, c. 320; 1978, cc. 772, 799, 817; 1979, cc. 565, 568, 570; 1980,
cc. 318, 736; 1981, cc. 419, 636; 1982, cc. 348, 548, 552, 554, 558, 633; 1983,
c. 554; 1984, cc. 247, 675, 695; 2011, c. 685.