Chap. 216.—An ACT to amend and re-enact Section 31 of the Tax Code of Vir-
ginia, as heretofore amended, in relation to information returns under the in-
come tax law. [fH B 333]

Approved March 23, 1946

Be it enacted by the General Assembly of Virginia :

1. That section thirty-one of the Tax Code of Virginia, as hereto-
tore amended, be amended and re-enacted, as follows:

Section 31. Information returns.—Every corporation subject to
the jurisdiction of this State shall, when required by the Department of
Taxation, render a correct return, duly verified under oath, of its pay-
ments of dividends to residents of this State, stating the name and address
of each shareholder, the number of shares owned by him, and the amount
of dividends paid to him.

Every person, firm or corporation, subject to the jurisdiction of this
State, in whatever capacity acting, including lessees or mortgagors of
real or personal property, fiduciaries, and employers, making payment
to another person, firm or corporation, of interest, rent, salaries, wages,
Dremiums, annuities, compensations, remunerations, emoluments, or
other fixed or determinable gains, profits, and income (other than pay-
ments described in the next preceding paragraph), of five hundred dollars
or more in any taxable year, or, in the case of such payments made by the
Commonwealth of Virginia and its political subdivisions, or in the case
of such payments made by the United States or any agency or instru-
mentality thereof, the officers or employees of this State or of its political
subdivisions, or of the United States or of any agency or instrumentality
thereof, having information as to such payments and required to make
returns in regard thereto by the regulations hereinafter provided for
shall render a true and accurate return to the Department of Taxation,
under such regulations and in such form and manner and to such extent
as may be prescribed by it, setting forth the amount of such gains, profits,
and income, and the name and address of the recipient of such payment.
Such returns may be required, regardless of amounts, in the case of pay-
ments of interest upon bonds, mortgages, deeds of trust, or other similar
obligations of corporations. When necessary to make effective the pro-
visions of this section the name and address of the recipient of the in-
come shall be furnished upon demand of the person paying the income.
The provisions of this section shall not apply to the payment of interest
on obligations of the United States or of this State, nor shall the pro-
visions of this section be construed as to require such information return
as to the recipient of any such payment as is hereinbefore described where
such recipient is a non-resident of this State and is not subject to taxation
under the income tax laws of this State.

Corporations and partnerships required to file annually informa-
tion returns shall file the same on or before February fifteenth of each
year, and individuals required to file annual information returns shall file
the same on or before May first of each year. In all cases such annual
information returns shall give such information for the calendar year next
preceding the calendar year in which they are required by this chapter
to be filed.