58.1-2502 - Exemptions and exclusions. - Virginia Statutes

§ 58.1-2502. Exemptions and exclusions.

Nothing in this chapter shall be construed to require any tax, other thantaxes imposed upon property and the license tax imposed by § 38.2-4127:

1. Upon fraternal benefit societies as defined in § 38.2-4100.

2. Upon any mutual assessment fire insurance company as defined in §§38.2-2501 and 38.2-2503 which (i) confines its business to not more than fourcontiguous counties and cities located therein and wholly surrounded therebyin the Commonwealth, if any such city has a population of not more than30,000, or (ii) confines its business to more than four contiguous countiesin the Commonwealth if such counties together have a population not in excessof 100,000.

3. Upon premiums derived from workers' compensation insurance on which apremium tax is imposed under the provisions of § 65.2-1000.

4. Upon consideration for contracts for annuities as defined in § 38.2-106.

(Code 1950, §§ 58-493, 58-494; 1952, c. 190; 1956, c. 527; 1960, c. 452;1977, c. 248; 1984, c. 675.)