13.1-1120 - Income and property taxes. - Virginia Statutes

§ 13.1-1120. Income and property taxes.

All professional limited liability companies organized or qualifying underthe provisions of this chapter shall be treated for income tax purposes underthe provisions of Chapter 3 (§ 58.1-300 et seq.) of Title 58.1 in the mannerdetermined under § 58.1-301, and property owned by professional limitedliability companies shall be taxed in the actual form in which it may existand not as capital.

(1992, c. 574.)