Chap. 38.—An ACT to amend the Tax Code of Virginia by adding a new section
numbered Section 73-b, in relation to withheld taxes in computing capital for
the ourpose of taxation. [S 42]

Approved February 19, 1944

Be it enacted by the General Assembly of Virginia:

1. That the Tax Code of Virginia be amended by adding a new sec-
tion numbered section seventy-three-b, as follows:

Section 73-b. Withheld taxes in computing capital—In computing
capital for the purpose of taxation under this chapter there shall be al-
lowed as a deduction from money on hand and on deposit all taxes im-
posed by law on the wages and salaries of employees which have been
actually withheld by the capital taxpayer and not paid to the government
imposing the taxes. This section shall apply to the assessment and col-
lection of taxes for the tax vear nineteen hundred forty-four and for
every year thereafter until otherwise provided by law.