Chapter 12: Bank Franchise Tax

This chapter is comprised of the following sections:

§58.1-1200 Title
§58.1-1201 Definitions
§58.1-1202 Bank capital assessable
§58.1-1203 Real and leased tangible personal property of banks to be assessed as other real and personal property
§58.1-1204 Rate of tax
§58.1-1204.1 Proration for new banks
§58.1-1205 Computation of net capital
§58.1-1206 (Effective July 1, 2025) Deductions from gross capital
§58.1-1207 (Effective July 1, 2025) Filing of return and payment of tax
§58.1-1208 City tax
§58.1-1209 Town tax
§58.1-1210 County tax
§58.1-1211 Branch banks
§58.1-1212 (Effective July 1, 2025) Record of deposits through branches required
§58.1-1213 Credit against state tax for amounts paid cities, towns and counties
§58.1-1214 Auditing of returns
§58.1-1215 Banks in liquidation
§58.1-1216 Penalty upon bank for failure to comply with chapter
§58.1-1217 State banks and national banks treated the same in matter of taxation
