Virginia § 58.1-1207 - (Effective until July 1, 2025) Filing of return and payment of tax
Full text of Virginia Code of Virginia § 58.1-1207 — (Effective until July 1, 2025) Filing of return and payment of tax, with citation guidance and answers to common questions.
§ 58.1-1207. (Effective until July 1, 2025) Filing of return and payment of tax
Each bank as defined in § 58.1-1201 as of January 1 of each year shall prepare and file with the commissioner of the revenue or comparable assessing officer of the county, city or town where the principal office of the bank is located on or before March 1, a return in duplicate which shall set forth the tax on net capital as computed under this chapter. The return shall be in a form prescribed by the Department of Taxation. The commissioner of the revenue or comparable assessing officer shall certify a copy of the bank's return and schedules and shall forthwith transmit such certified copy to the Department of Taxation. Additionally, a copy of the real estate deduction schedules and the apportionment under § 58.1-1211 shall be filed with the appropriate assessing officer of each political subdivision imposing a tax on the filing bank. Such return shall set forth the tax on net capital owing to each such political subdivision as computed under this chapter and shall include the listing of the real estate, as assessed for the prior year, as well as a description of the total of the obligations of the United States and the average percentage thereof on the four dates prescribed in subdivision 3 of § 58.1-1206. Every bank, on or before June 1 of each year, shall pay into the state treasury the state taxes assessed under this chapter and into the treasurer's office or other official of the local political subdivisions all taxes assessed by such political subdivision.
Code 1950, § 58-485.013; 1980, c. 578; 1984, c. 675.
Source: official Virginia text · Last verified 2026-08-27
Frequently Asked Questions About Virginia § 58.1-1207
What does Code of Virginia § 58.1-1207 cover?
Section 58.1-1207 ("(Effective until July 1, 2025) Filing of return and payment of tax") 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 § 58.1-1207?
A common citation format is "Code of Virginia § 58.1-1207" (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 § 58.1-1207 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.