Chap. 319.—An ACT to amend and reenact Section 30, of Chapter 48 of the
Acts of the General rg Oe 1922, approved February 18, 1922, as
heretofore amended, said Act being entitled “An act to encourage the co-
operative marketing of farm products in Virginia, to provide for and authorize
the incorporation of cooperative marketing associations or exchanges and
the licensing to do business in Virginia of similar corporations created by other
states under similar laws”, and to prescribe what taxes shall be paid by such
associations. (H 241]

Approved March 17, 1948

Be it enacted by the General Assembly of Virginia:

1. That section thirty, of chapter forty-eight of the Acts of
the General Assembly of Virginia of nineteen hundred twenty-two,
approved February eighteenth, nineteen hundred twenty-two, and
entitled “An act to encourage the cooperative marketing of farm
products in Virginia, to provide for and authorize the incorporation
of cooperative marketing associations or exchanges and the licens-
ing to do business in Virginia of similar corporations created by
other States under similar laws”, be amended and reenacted to
read as follows:

Section 30. Taxes.—Nothing in this act shall be construed as
exempting any such association, whether organized prior or subse-
quent to the date of the approval of this act, and whether chartered
under the laws of this State or otherwise chartered and doing
business in this State, from the payment of licenses, income,
property or any other taxes, State and local; and the designation
of any such association in this act as non-profit shall not be con-
strued as exempting any such association from State income taxa-
tion as a corporation not organized or conducted for pecuniary
profit within the meaning of section fifty-two of the Tax Code of
Virginia. Provided, however, that for the privilege of storing
and/or marketing the farmer’s crops or products including dairy
products, fruit, live stock such associations shall pay only an
annual license fee of ten dollars ($10.00) for such privilege, which
shall be in lieu of all other corporation, franchise and income taxes,
taxes on capital, taxes and charges upon reserves held by the asso-
ciation, and all State and local license taxes on that part of its
business which is solely and exclusively the storing and/or market-
ing of the farmer’s crops or products.