CHAPTER 365

AN ACT to amend chapter 14 of Title 13 of the Code of Virginia
by adding thereto a section numbered 18-247.1, relating to
the taxation of cooperative assoctations, societies, companies
and exchanges, and cooperative marketing associations and
corporations.

[ H 346 ]

Approved April 5, 1950

Be it enacted by the General Assembly of Virginia:
1. That chapter 14 of Title 18 of the Code of Virginia be

amended by adding a section thereto numbered 13-247.1 as
follows:
§ 13-247.1 Taxation. Every cooperative association, so-
ciety, company and exchange created under the provisions of
this chapter and every cooperative marketing association or cor-
poration and every general corporation that may be brought
under the provisions of this chapter, whether such association,
society, company, exchange or corporation be organized or
brought under this chapter prior or subsequent 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, and conducting a mercantile, merchandise or brokerage
business on the cooperative plan shall be taxable as a merchant
by the State, and by the city or town within which such busi-
ness is done. Nothing in this chapter shall exempt any such or-
ganization from any State or local merchant’s license tax.