Virginia § 21-401 - Exemption of bonds from taxation
Full text of Virginia Code of Virginia § 21-401 — Exemption of bonds from taxation, with citation guidance and answers to common questions.
§ 21-401. Exemption of bonds from taxation
The bonds and coupons issued under and by authority of this and other sections of this chapter shall be exempt from all county or municipal taxation or assessment, direct or indirect, general or special, whether imposed for purposes of general revenue or otherwise, and the interest thereon shall not be subject to taxation as for income, nor shall such bonds and coupons be subject for taxation when constituting a part of the surplus of any bank, trust company, or other corporation, but when constituting a part of such surplus shall be deducted from the total assets in order to ascertain the taxable value of such shares.
Code 1919, § 1774; 1920, p. 613; 1926, p. 624.
Source: official Virginia text · Last verified 2026-08-27
Frequently Asked Questions About Virginia § 21-401
What does Code of Virginia § 21-401 cover?
Section 21-401 ("Exemption of bonds from taxation") is part of the Code of Virginia, the codified statutory law of Virginia. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Virginia § 21-401?
A common citation format is "Code of Virginia § 21-401" (Virginia). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Virginia law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Virginia official source linked on this page or consult a licensed Virginia attorney.
How does Virginia § 21-401 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Virginia can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Virginia.