Chap. 216.—An ACT to amend and reenact Section 73-b of the Tax Code of
Virginia in relation to withheld taxes in computing capital for the purpose of
taxation, so as to include admission taxes, {S 121]

Approved March 13, 1948

Be it enacted by the General Assembly of Virginia:

1, That section seventy-three-b of the Tax Code of Virginia be
amended and reenacted as follows:

Section 73-b. Withheld taxes and admission taxes in com-
puting ‘capital—In computing capital for the purpose of taxation
under this chapter, there shall be allowed as a deduction from
money on hand and on deposit all taxes imposed 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, and all admission taxes which have been collected by the
capital taxpayer from persons purchasing admission and not paid
to the government imposing the taxes. This section shall apply to
the assessment and collection of taxes for the tax year nineteen
hundred and forty-eight and for each year thereafter until otherwise
provided by law.