58.1-445 - Consolidation of accounts. - Virginia Statutes

§ 58.1-445. Consolidation of accounts.

In any case of two or more related trades or businesses liable to taxationunder this chapter owned or controlled directly or indirectly by the sameinterests, the Department may, and at the request of the taxpayer shall, ifnecessary in order to make an accurate distribution or apportionment ofgains, profits, income, deductions or capital between or among such relatedtrades or businesses, consolidate the accounts of such related trades orbusinesses.

(Code 1950, § 58-151.082; 1971, Ex. Sess., c. 171; 1984, c. 675.)