Code of Virginia (Last Updated:July 28, 2020) |
TITLE 58.1. Taxation |
SUBTITLE III. Local Taxes |
CHAPTER 35. Tangible Personal Property, Machinery and Tools and Merchants' Capital |
ARTICLE 4. Situs for Taxation |
SECTION 58.1-3514. When cargo in transit not deemed to have acquired a situs for taxation |
Cargo, merchandise and equipment in transit which is stored, located or housed temporarily in a marine or airport terminal prior to being transported by vessels or aircraft to a point outside the Commonwealth, shall not acquire a situs for property taxation by the Commonwealth or any of its counties, cities or towns. Code 1950, § 58-834.3; 1983, c. 225; 1984, c. 675. |