Chap. 329.—An ACT to amend and re-enact Section 222 of the Tax Code of
Virginia relating to taxes on corporations which operate steamships, steam-
boats or other floating property for the transportation of passengers or
freight. [S B 293]

Approved March 27, 1936

1. Be it enacted by the General Assembly of Virginia, That section
two hundred and twenty-two of the Tax Code of Virginia be amended
and re-enacted so as to read as follows:

Section 222. Taxes on Corporations Which Operate Steamships,
Steamboats or Other Floating Property for the Transportation of
Passengers or Freight—The State tax on the intangible personal
property (other than bonds issued by counties, cities and towns or
other political subdivisions of this State) owned by corporations
which operate steamships, steamboats, or other floating property for
the transportation of passengers or freight, shall be at the rate of fifty
cents on every hundred dollars of the assessed value thereof.

The State tax on the money of every such company shall be
twenty cents on every one hundred dollars assessed value thereof.

The State tax on bonds issued by counties, cities and towns or
other political subdivisions of this State, owned by every such com-
pany shall be at the rate of thirty-five cents on every hundred dollars
assessed value thereof.

There shall. be no local levies assessed on such intangible personal
property, money, or bonds of the political subdivisions of this State.

On the real estate and tangible personal property of every such
company there shall be local levies at the same rate or rates as are
assessed upon other real estate and tangible property located in such
localities, the proceeds of which local levies shall be applied as is
provided by law.

Every such company for the privilege of doing business in this
State, in addition to the annual registration fee and property tax,
shall pay an annual State license tax as follows:

Said tax shall be equal to one and one-half of one per centum
upon the gross receipts from the operation of such companies, and
each of them, within this State. When such companies are operated
partly within and partly without this State, the gross receipts within
this State shall be deemed to be all receipts on business beginning and
ending within this State and all receipts earned in Virginia on busi-
ness passing through, into, or out of this State; provided, that unless
otherwise clearly shown such last mentioned receipts shall be deemed
to be that proportion of the total receipts from such business which
the entire line mileage over which said business is done bears to the
mileage operated within this State.