58.1-1107 - Date as of which intangible personal property must be returned. - Virginia Statutes

§ 58.1-1107. Date as of which intangible personal property must be returned.

Intangible personal property shall be returned for taxation as of January 1of every year. The status of all persons, firms, corporations and othertaxpayers liable to taxation on intangible personal property shall be fixedand the value of all intangible personal property returned for taxation shallbe taken as of such date in each year.

Notwithstanding the other provisions of this section, a taxpayer may at hisoption make return of the average amount of intangible personal propertyemployed in business on such date and August 1 next preceding.

(Code 1950, § 58-423; 1982, c. 633; 1984, c. 675.)