Va. Code » Title 58.1. Taxation » Subtitle I. Taxes Administered by the Department of Taxation » Chapter 3. Income Tax » Article 10. Taxation of Corporations
Virginia Code

Va. Code Ann. § 58.1-410 (2026)

Valuation of property owned or rented

✓ current as of May 2026
Find cases: SyfertCases citing this section VA-LISlaw.lis.virginia.gov JustiaTitle on Justia CornellLII Search CasesGoogle Scholar

Property owned by the corporation shall be valued at its original cost plus the cost of additions and improvements. Property rented by the corporation shall be valued at eight times the annual rental rate paid by the corporation. The value of movable tangible personal property used both within and without the Commonwealth shall be included in the numerator to the extent of its utilization in the Commonwealth. The extent of such utilization shall be determined by multiplying the total value of such property by a fraction, the numerator of which is the number of days of physical location of the property in the Commonwealth during the taxable period and the denominator of which is the number of days of physical location of the property everywhere during the taxable period. The number of days of physical location of the property may be determined on a statistical basis or by such other reasonable method acceptable to the Department.

Code 1950, § 58-151.043; 1971, Ex. Sess., c. 171; 1981, c. 402; 1984, c. 675.

Notes of Decisions
Cited in 1 case, 1999–1999 · leading case: Com., Dept. of Taxation v. Delta Air Lines, 513 S.E.2d 130 (Va. 1999).
Sort: Relevance Newest Treatment
Com., Dept. of Taxation v. Delta Air Lines, 513 S.E.2d 130 (Va. 1999). · cites it 2× “” Code § 58.1-410. Finally, “[t]he sales factor is a fraction, the numerator of which is the total sales of the corporation in the Commonwealth during the taxable year, and the denominator of which is the total sales of the corporation everywhere during the taxable year .”
Annotations are extracted automatically from the opinions in the Syfert caselaw corpus and ranked by authority, recency, and treatment. Dots show Syfertize treatment of the citing case itself.