SECTION 58.1-2631. Gross receipts in cases of consolidation or merger, ARTICLE 2. License Tax on Telegraph, Telephone, Water, Heat, Light, Power and Pipeline Companies, CHAPTER 26. Taxation of Public Service Corporations, SUBTITLE II. Taxes Administered By Other Agencies, TITLE 58.1. Taxation, Code of Virginia

Code of Virginia (Last Updated:July 28, 2020)

TITLE 58.1. Taxation

SUBTITLE II. Taxes Administered By Other Agencies

CHAPTER 26. Taxation of Public Service Corporations

ARTICLE 2. License Tax on Telegraph, Telephone, Water, Heat, Light, Power and Pipeline Companies

SECTION 58.1-2631. Gross receipts in cases of consolidation or merger

Whenever there is a consolidation or merger of corporations taxable under § 58.1-2626 or taxable under Article 6 (§ 58.1-2626 et seq.) of this chapter, liability for the taxes shall attach to the corporation thus formed and the gross receipts which shall be used for measuring the license tax or special regulatory revenue tax of the corporation thus formed shall include the gross receipts of the corporations which were consolidated or merged.

Code 1950, § 58-507; 1984, c. 675; 1988, c. 899; 2002, c. 58.1-2626 .