{"id":31681,"date":"2008-03-26T16:35:41","date_gmt":"2008-03-26T21:35:41","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-legal\/uncategorized\/virginia-taxation-update-1997.html"},"modified":"2008-03-26T16:35:41","modified_gmt":"2008-03-26T21:35:41","slug":"virginia-taxation-update-1997","status":"publish","type":"corporate","link":"https:\/\/corporate.findlaw.com\/business-operations\/virginia-taxation-update-1997.html","title":{"rendered":"Virginia Taxation Update: 1997"},"content":{"rendered":"
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Because this is an election year, few significant tax bills were passed by the General Assembly. Following are some bills that may be of interest:<\/p>

Personal Property Taxes<\/strong><\/p>

Payment Options.<\/strong> Localities may now offer options permitting taxpayers to pay their tangible personal property tax monthly, bi-monthly, quarterly, semi-annually or in a lump sum, provided that the total amount of property tax is paid in full by the final due date. Check with your local Commissioner of the Revenue to see if your locality has implemented such a payment program. (HB 1881)<\/p>

Business, Professional and Occupational License (BPOL) Tax<\/strong><\/p>

Uniform Ordinance Provisions.<\/strong> Local jurisdictions with populations exceeding 50,000 may now waive BPOL requirements for businesses with gross receipts under $100,000.00. (HB 2447)<\/p>

License Tax v. License Fee.<\/strong> Local jurisdictions may assess either a license tax or a license fee on businesses but no longer may assess both a license tax and a license fee on businesses. This bill becomes effective on July 1, 1998. (HB 2783)<\/p>

Reclassification of Business Personal Property.<\/strong> Business tangible personal property and business computer equipment is no longer classified as general tangible personal property and has been changed to other classifications for valuation purposes. This will allow local jurisdictions to establish a lower rate for these classes of business property. (HB 2314)<\/p>

Clark H. Worthy<\/strong><\/em> Mr. Worthy is an Associate with the Firm.E-mail:<\/strong> worthy@woodsrogers.com<\/a><\/p><\/div>","protected":false},"excerpt":{"rendered":"

Because this is an election year, few significant tax bills were passed by the General Assembly. Following are some bills that may be of interest: Localities may now offer options permitting taxpayers to pay their tangible personal property tax …<\/p>\n","protected":false},"template":"","meta":{"_acf_changed":false,"_stopmodifiedupdate":true,"_modified_date":"","_cloudinary_featured_overwrite":false},"corporate_categories":[6467,6471,6473],"class_list":["post-31681","corporate","type-corporate","status-publish","hentry","corporate_categories-business-operations","corporate_categories-business-operations__property","corporate_categories-business-operations__property__real-property"],"acf":[],"_links":{"self":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate\/31681","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate"}],"about":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/types\/corporate"}],"wp:attachment":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/media?parent=31681"}],"wp:term":[{"taxonomy":"corporate_categories","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_categories?post=31681"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}