CHAPTER 69

An Act to amend and reenact §§ 58-91, 58-94, 58-106, 58-108, 58-109,
58-110, 58-111, 58-112, 58-113, 58-117, 58-126, 58-878, 58-961, 58-966,
and 58-978 of the Code of Virginia, relating to income taxes; and §§
58-504, 58-524, 58-526, 58-530, 58-531, 58-556, 58-557, 58-560, 58-565,
58-566, 58-568, 58-570, as amended, 58-576, as amended, 58-581, 58-586,
58-588, 58-590, 58-591, 58-607, 58-610, 58-613, and 58-622 of the Code of
Virginia, relating to taxes on public service corporations; and to re-
peal §§ 58-86.2, 58-86.3, 58-86.4, as amended, and 58-86.5 of the Code
of Virginia, relating to contingent income tax credits, and § 58-513 of
the Code of Virginia, relating to public service corporations.

[H. B. 46]
Approved February 20, 1956

Be it enacted by the General Assembly of Virginia:
1. That §§ 58-91, 58-94, 58-106, 58-108, 58-109, 58-110, 58-111, 58-112,
58-118, 58-117, 58-126, 58-504, 58-524, 58-526, 58-530, 58-531, 58-556,
58-557, 58-560, 58-565, 58-566, 58-568, 58-570, as amended, 58-576, as
amended, 58-581, 58-586, 58-588, 58-590, 58-591, 58-607, 58-610, 58-613,
CH. 69] 7 ACTS OF ASSEMBLY 61

58-622, 58-878, 58-961, 58-966, and 58-978 of the Code of Virginia be
amended and reenacted as follows:

§ 58-91. When information returns to be filed—*Information returns
shall be filed on or before February fifteenth 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 re-
quired by this chapter to be filed.

§ 58-94. Separate individual income assessment * sheets or forms;

how kept.—The assessment of individual income taxes shall be made * on
separate * sheets or forms to be prescribed by the Department of Taxation,
all copies of which shall be kept * by the commissioner of the revenue, the
treasurer and the Department, respectively, in such manner as shall pre-
clude inspection by unauthorized persons. Such * sheets or forms and re-
turns showing income shall not be inspected by any person save an officer or
other person duly authorized by law or directed so to do by order of a
court of competent jurisdiction.
_ § 58-106. Forms for returns.—Blank forms of returns for individual
income shall be supplied by the Department of Taxation to the commis-
sioners of the revenue, who shall mail or deliver them to the taxpayers
not later than * January fifteenth of each year. *

§ 58-108. Time for the filing of individual income tax returns.—All
returns of individual income shall be made on or before the first day
of May in each year, except that such returns, if made on the basis of a
fiscal year, shall be made on or before the fifteenth day of the fourth month
following the close of such fiscal year.

§ 58-109. Extension of time for filing individual returns.—The De-
partment of Taxation may grant a reasonable extension of time for filing
income returns whenever in its judgment good cause exists and shall keep
a record of every such extension. Except in case of a taxpayer who is
abroad, no such extension shall be granted for more than six months.
Whenever the time for filing a taxable return be extended, interest at the
rate of one-half of one per cent per month or fraction thereof from the
time the return was originally required to be filed to the time of payment
shall be charged and collected. If any taxpayer, who has been granted
an extension of time for filing his return, fails to file his return within the
the extended time and to pay the full amount of the tax as shown on the
face of the return at the time of filing, and the accrued interest, his case
shall be treated the same as if no extension had been granted.

§ 58-110. Commissioner of the revenue to obtain and audit returns.—
Every commissioner of the revenue shall obtain an individual income tax
return from every taxpayer within his jurisdiction who is liable under the
law to file such a return with him; but this duty of the commissioner of
the revenue to obtain such return shall in no manner diminish the obliga-
tion of the taxpayer to file a return without being called upon to do so
by the commissioner of the revenue or any other officer. Each commis-
sioner of the revenue shall audit returns of taxpayers as soon as prac-
ticable after they are made to him and shall assess the amount of taxes,
or the amount of additional taxes, as the case may be, which appears to
be due; but such auditing shall not, be done in such manner or at such time
in any case as will result in any delay on the part of the commissioner of
the revenue in complying with Sections 58-111 and 58-117.

§ 58-111. Individual income * assessment sheets or forms.—* The
Department of Taxation shall prescribe and furnish assessment sheets or
forms for the use of every commissioner of the revenue in making assess-
ments of individual and fiduciary income taxes. These assessment sheets
or forms shall be made out in as many copies as may be prescribed by the
Department of Taxation. The original and, if the Department of Taxa-
62 ACTS OF ASSEMBLY * [va., 1956

tion so prescribes, one copy of each such sheet or form shall be delivered
to the treasurer of the county or city; one copy shall be sent the Depart-
ment of Taxation, and one copy shall be retained by the commissioner
of the revenue. The commissioner of the revenue shall make out these
assessment sheets or forms daily as and when returns are received, or in
the case of additional assessments, as and when made, and shall continue
so to make out such sheets or forms daily until all returns so received by
him have been assessed on such sheets or forms; and the commissioner
of the revenue shall each day deliver the original and, if the Department
of Taxation so prescribes, one copy of each such sheet or form so made out
that day to the treasurer of the county or city. Within ten days after
the close of each month the commissioner of the revenue shall transmit to
the Department of Taxation its copy of the assessment sheets or forms
showing assessments made throughout such month.

§ 58-112. Disposition of returns; audit—As soon as the individual
income tax returns have been received by the commissioner of the revenue
and entered upon the assessment * sheets or forms, the commissioner of
the revenue shall forward such returns to the Department of Taxation;
provided, however, that the Department of Taxation may authorize the
commissioner of the revenue to retain such returns for such length of
time as may be necessary to enable him to review them under § 58-110 and
to use them in ascertaining delinquents. As soon as practicable after each
such return is received by the Department, it shall examine and audit it.

§ 58-118. Assessment and payment of deficiency; fraud; penalties.—
If the amount of tax computed by the Department shall be greater than
the amount theretofore assessed, the excess shall be assessed by the De-
partment aforesaid and a bill for the same shall be mailed to the taxpayer
and advice thereof given to the Comptroller. The taxpayer shall pay such
additional tax to the State Treasurer within * thirty days after the amount
of the tax as computed shall be mailed by the Department. In such case,
if the return was made in good faith and the understatement of the amount
in the return was not due to any fault of the taxpayer, there shall be no
* penalty on the additional tax because of such understatement, * but
interest shall be added to the amount of the deficiency at the rate of one-
half of one per cent per month or fraction thereof from the time the said
return was required by law to be filed until paid.

* If the understatement is false or fraudulent with intent to evade the
tax a penalty of one hundred per centum shall be added * together with
interest on the tax * at the rate of one-half of one per cent per month *
or fraction * thereof from the time the said return was required by law to
be filed until paid.

* Nothing contained in this section shall prevent the taxpayer from
applying to the circuit court of the county or the corporation or hustings
court of the city wherein he resides for a correction of the assessment
made by the Department of Taxation, with right of appeal in the manner
provided by law.

§ 58-117. When, * where and how individual income taxes payable
and collectible.—* Each individual and fiduciary liable for income tax
shall pay the same to the treasurer of the county or city with whose com-
missioner of the revenue the taxpayer files his return at the time fixed
by law for filing the return. The full amount of the tax payable as shown
on the face of the return shall be so paid. But if the full amount of the
tax exceeds fifty dollars, the taxpayer may pay fifty dollars, or one-half of
the full tax, whichever is greater, on the date he files his return, and he
may pay the balance on or before the expiration of five months after the
return was originally due with interest on the deferred payment at the
rate of one-half of one per cent per month or fraction thereof from the
CH. 69] ACTS OF ASSEMBLY 63

date the return was originally due. No such taxpayer shall be entitled to
pay in two installments unless he files his return before the deadline for
fling without penalty for late filing. A taxpayer may file his return and
pay his tax in full in the closing days of his ad year provided he ts
able to prepare a complete return.

If any payment or deferred payment is not made when due, there
shall be added to the entire tax, or the balance of the tax, as the case may
be, a penalty of five per cent of the amount thereof, and the entire tax or
the balance of the tax, as the case may be, together with such penalty
will immediately become collectible, and interest upon such tax or out-
standing balance and on the accrued penalty shall be added at the rate of
one-half of one per cent per month or fraction thereof from one month
after the tax or balance of the tax was originally due until paid; but in
the case of an additional tax assessed by the commissioner of the revenue
under the provisions of § 58-11 0, if the return was made in good faith and
the understatement of the amount in the return was not due to any fault
of the taxpayer, there shall be no penalty on the additional tax because of
such understatement, but interest shall be added to the amount of the
deficiency at the rate of one-half of one per cent per month or fraction
thereof from the time the said return was required by law to be filed
until paid.

In every case the taxpayer may make payment to the treasurer of the
county or city by attaching to his return when he files it with the commis-
sioner of the revenue a check or money order for the proper amount made

payable to the order of “Treasurer of the County Of .........:0000 or “Treas-
urer of the City of ...........06 ” as the case may be; and the commissioner
of the revenue shall transmit all such checks and money orders to the
treasurer at the time he delivers to the treasurer the assessment sheets
or forms showing the assessments, or if memorandum assessments are
made, at the time such memorandum assessments are certified to the
treasurer. In those counties in which a director of finance performs the
duties of a county treasurer, checks or money orders shall be made payable
to the order of “Director of Finance of the County Of ..........0000 ” If any.
check be not paid by the bank on which it is drawn, the taxpayer by
whom such check was tendered shall remain liable for the payment of
the tax and for all legal penalties and interest the same as if such check
had not been tendered.

If the taxpayer on filing his return desires to pay in currency or coin,
the commissioner of the revenue with whom the return is filed shall forth-
with prepare a memorandum assessment on a form to be prescribed and
furnished by the Department of Taxation and a copy of such memorandum
assessment shall be immediately certified to the treasurer who shall receive
the currency or coin from the taxpayer and give his receipt therefor.
Memorandum assessments shall be subsequently entered by the commis-
stoner of the revenue on the prescribed assessment sheets or forms;
and the Department of Taxation may prescribe and furnish forms for
making memorandum assessments in all additional cases in which, in the
opinion of the Department, the same may be necessary to facilitate the
assessment and collection of individual and fiduciary income taxes.

Each county and city treasurer shall proceed promptly to collect all
individual and fiduciary income taxes for the taxable year that have been
assessed by the commissioner of the revenue and remain unpaid after the
time fized by law for payment and shall continue his efforts so to collect
until the close of the then current calendar year. The collection of such
taxes shall be enforced by legal process to the extent collection cannot be
accomplished otherwise, and all remedies available to the treasurer for the
collection of other taxes shall apply to the collection of individual and fidu-
64 ACTS OF ASSEMBLY [vA., 1956

ciary income taxes. Forms of necessary. tax bills and receipts shall be
prescribed by the Department of Taxation.

Within thirty-one days after the close of such calendar year the
treasurer shall transmit to the Department of Taxation in such form as
the Department of Taxation may prescribe such information and data as
may be required by such Department with respect to all assessments
made by the commissioner of the revenue during such calendar year as the
treasurer was unable to collect. The Department of Taxation, upon receiv-
ing and examining the same, shall certify to the Comptroller the necessary
information to enable the Comptroller to give such treasurer proper credit
on the Comptroller’s books for all unpaid items, and such treasurer shall
not receive any of such taxes after he has transmitted such information and
data to the Department of Taxation, but the same shall be paid directly
into the State treasury.

The Department of Taxation shall have power to issue warrants for
the collection of such taxes in the same manner and with the same effect
as in the case of warrants issued for the collection of taxes assessed by
such Department; and all provisions of law applicable to such warrants
shall be applicable to the warrants issued for the collection of taxes under
this section. The Department of Taxation shall also have power to collect
the taxes aforesaid by other legal process.

§ 58-126. General provisions applicable; when and where returns
filed ; assessment.—Fiduciaries required to make returns under this chapter
shall be subject to all the provisions of this chapter which apply to other
taxpayers and shall file such return with the commissioner of the revenue
having jurisdiction in the county or city in which the fiduciary qualified or,
if there has been no qualification in this State, in the county or city in
which such fiduciary resides, does business or has an office or wherein
the beneficiary or any of them may reside. Fiduciary returns shall be
filed within the time required by this chapter for the filing of individual
returns and for failure to file returns in time fiduciaries shall be subject
to the same penalties as individuals. *

§ 58-504. Franchise or license taxes of corporations commencing
business; when measured by gross receipts estimate for that year.—The
franchise or license tax imposed by this chapter on every public service
corporation continuing business after the close of any year shall apply also
to every public service corporation beginning business at or after the
beginning of the year. The measure of such franchise or license tax of such
public service corporation for the year or for that part of the year in
which it begins business shall be an estimate of the gross receipts of such
public service corporation for the year or for that part of the year in which
it begins business. Such estimate shall be made by the corporation liable
to such franchise or license tax and shall be reported to the ‘Commission
within thirty days after beginning business and the franchise or license tax
measured thereby and assessed by the Commission shall be paid into the
State treasury within thirty days after such assessment is made or by
* June first of the year if such assessment is made more than thirty days
prior to * June first.

§ 58-524. Annual property report required.—Every railway and
canal corporation of this State, not exempt from taxation by virtue of
its charter, and every railway and canal corporation incorporated under
the laws of any other State doing business in this State shall report on or
before the * fifteenth day of * April, to the State Corporation Commission,
all of its real and personal property of every description, as of the begin-
ning of the first day of January preceding, the fair cash value thereof,
showing particularly in what county or corporation and school district
in this State such property is located, except only such part thereof as
CH. 69] ACTS OF ASSEMBLY 65

is segregated exclusively for State taxation and in what county or corpora-
tion the principal office or agency of such corporation is located.

The report shall classify such property under the following heads:

(1) Right-of-way, terminal and yard lands, and roadbed and trackage
or canal bed, bridges, trestles and tunnels and all signals (track and
crossing), and interlockers, buildings, structures and other improvements
thereon, except only such improvements as are provided for in classes
below mentioned;

(2) Depot and shop grounds and lots and all other lands used for
common carrier purposes, except those included in class (1) above, and
all buildings, structures and other improvements thereon, except only such
improvements as are provided for in classes below mentioned ;

(3) Real estate not included in other classes and all buildings, struc-
tures and other improvements thereon, except only such improvements as
are provided for in classes below mentioned;

(4) Telephone and telegraph lines, together with telephone apparatus
and equipment, power transmission and power distribution lines, with
apparatus and equipment for use in connection therewith, and water pipe
lines, as a part of all which shall be included poles, wire, cable, under-
ground conduits and all other integral parts thereof and rights-of-way,
aTevEr the rights-of-way are not reported under above classifications of
real es ; .

(5) Rolling stock, which shall include all locomotives, of whatever
motive power, autocars, cars of every kind and description, canal boats
and all other equipment which it is reasonably proper to class as rolling
stock ; provided, that foreign railway and canal corporations doing business
in this: State shall report and be assessed on the average amount of rolling
stock habitually used by them in this State;

(6) Boats, and all other floating property and equipment, except
canal boats, machinery in shops, engine houses, power plants, substations,
pump houses and all other machinery of every class and description and all
furniture and office equipment of every kind and description ;

(7) Stores, fuel, materials and supplies of every class and description ;

(8) Stocks, bonds and other evidences of debt of other corporations
and individuals and firms held by such company;

(9) Stocks, bonds and other evidences of debt of any person or cor-
poration belonging to any such company chartered in this State, in excess
of its indebtedness, whether the same be held in trust or otherwise by somé
other person, firm or corporation, within or without this State, which;
for the purpose of this chapter, shall be considered to be located at the
principal office of such company in this State;

(10) Money of the corporation, derived from actual transportation
operations, on deposit with any bank or other corporation or firm or
person, or in the possession or under the control of the corporation,
whether such money be actually in or out of the State, and if such railway
or canal is only in part within this Commonwealth, the money to be re-
ported shall be such proportion of the total money on deposit, derived
as aforesaid, as the gross earnings in Virginia bear to the gross earnings
of the system;

(11) All other personal property of such company not enumerated in
either of the foregoing heads, which would be taxable if the same belonged
to an individual.

§ 58-526. Report of gross transportation receipts.—Every such cor-
poration shall also report on or before the * fifteenth day of * April of
every year the gross transportation receipts of the railway or canal for the
year ending the thirty-first day of December preceding and in all cases
the report shall be so made as to give the data on which the same is made..
§ 58-580. Assessment and payment of taxes.—The State Corporation
Commission shall assess upon such property and gross transportation re-
ceipts the taxes imposed thereon by law. A certified copy of this assess-
ment, when made, shall be immediately forwarded by the clerk of the State
Corporation Commission * to the Comptroller and to the president or
other proper officer of each railway and canal corporation so assessed,
whose duty it shall be to pay into the State treasury on or before the first
day of * June following, the taxes upon its property and the franchise tax
upon the gross transportation receipts as shown by such copy of the
assessment.

§ 58-531. Assessment when corporation fails to make reports.—The
State Corporation Commission shall, at such time as it may elect, on or
before the fifteenth day of * May of each year, proceed to ascertain and
assess the gross transportation receipts of any railway or canal corporation
which has failed to make the reports herein required and shall also assess
the value of the property of any such corporation, except its franchise and
nontaxable shares of stock issued by other corporations and owned by it,
at a fair cash valuation, upon the best and most reliable information that
can be procured and to this end may send for persons and papers; and
the Commission shall assess upon such gross transportation receipts and
property the taxes imposed thereon by law. A certified copy of the assess-
ment when made shall be immediately forwarded by the clerk of the State
Corporation Commission to the Comptroller and to the president or other
proper officer of such railway or canal corporation so assessed, whose duty
it shall be to pay into the State treasury within * fifteen days after re-
ceiving the certified copy of the assessment, the taxes upon its property
and the franchise tax upon its gross transportation receipts as shown by
the copy of the assessment. ,

§ 58-556. Annual report.—The president or other chief officer of
every car company, car trust, mercantile company or corporation or in-
dividual not domiciled within this State owning any stock cars, furniture
cars, fruit cars, refrigerator cars, meat cars, oil cars, tank cars or other
similar cars, other than a railroad operating a line of railroad, shall an-
nually, on or before the * fifteenth day of * April in each year, report to
the Commission a true, full and accurate statement, verified by the affi-
davit of the officer or person making the same, showing the aggregate
number of miles made by their several cars over the several lines of rail-
road in this State during the year ending the thirty-first day of December
next preceding and a further statement showing the average number of
miles traveled per day by the cars of the particular class or classes covered
by the statement, in the ordinary course of business during the year.

58-557. Report by railroad over which cars run.—The president
or other chief officer of every railroad company whose lines run through
or into this State shall also annually, on or before the * fifteenth day of
* April in each year, furnish to the Commission a statement, verified by
the affidavit of the officer or person making the same, showing the total
number of miles made by the cars of every such car company, car trust,
mercantile company or individual over their lines in this State during
the year ending the thirty-first day of December next preceding. Such
statement shall also show separately the names and aggregate number of
miles traveled over their lines in this State by the cars of each such car
company, car trust, mercantile company or individual and the average
number of miles traveled per day by each particular class of cars covered
by the statement in the ordinary course of business during the year.

§ 58-560. Rate and payment of tax.—Every such corporation or in-
dividual shall pay into the State treasury on or before the first day of * June
after receiving such certified copy of the assessment, the taxes hereby
CH. 69] ACTS OF ASSEMBLY 67

levied upon its property at the rate of two dollars and fifty cents on each
one hundred dollars of the assessed value thereof annually. _.

§ 58-565. Annual report.—Each sleeping car, parlor car and dining
car company doing business between points in this State shall report an-
nually, on or before the * fifteenth day of * April, tothe Commission: __

(1) The total number of miles of track over which it operated its
cars in this State on the first day of January preceding; .

(2) The gross receipts from operations entirely within this State
and if operations are partly within and partly without this State the entire
gross receipts from operations for the year ending December thirty-first
next preceding; .

(3) Any and all other information, in such manner and such detail,
as the Commission shall require. . ‘

§ 58-566. Assessment by Commission.—The Commission shall, after
thirty days’ notice previously given by it to the president or other proper
officer, assess upon each such company the tax imposed thereon by law.

Should any such company fail to make the report required by this
article on or before the * fifteenth day of * April the Commission shall, at
such time as it may elect, upon the best and most reliable information that
can be procured, assess the tax imposed thereon and shall ascertain the
information required herein. In the execution of such duty the Commis-
sion may take testimony, summon and compel the attendance of witnesses
and send for persons and papers.

§ 58-568. Payment of tax.—Such company shall pay into the State
treasury by the first day of * June following the taxes assessed against it.

§ 58-570. Annual report.—Every corporation, except a railroad, who
transports passengers or freight, as a common carrier, in any steamship,
steamboat, or other floating property shall report annually before the
* fifteenth day of * April to the Commission all of his real and personal
property in this State as of the beginning of the first day of January.
preceding, showing in what city, town, county and school district the
property is located and classifying it under the following heads:

(1) All steamships, steamboats and other floating property, their

inery and equipment;

(2) All wharves, sheds, offices, stores, docks, machine shops, gran-
aries, elevators and other buildings; - 7

(3) All other real estate and personal property;

(4) The gross receipts derived from transporting passengers or
freight between points in this State from operations for the year ending.
December thirty-first next preceding.

§ 58-576. Payment of tax.—Such person shall pay into the State
treasury by the first day of * June following, the taxes assessed against him.

§ 58-581. Annual report.—Each incorporated telegraph and telephone
company doing business in this State, owning and operating a telegraph
or telephone line in this State, shall report annually, on the * fifteenth
day of * April, to the Commission all rea] and personal property of every
description in this State, owned, operated or used by it as of the beginning
of the first day of January preceding, showing particularly, as to property
owned by it, in what corporation, county and school district such property
is located. Such corporation shall classify in its report all property under’
the following heads:

(1) Number of miles of pole line or conduits, including number of
miles of other property used in lieu of pole lines or conduits such as buried
cable, submarine cable or buried wire, owned by it within this State on
the first day of January preceding, in each county, city, town and school

ct;
(2) Number of miles of pole line or conduits, including number of
miles of other property used in lieu of pole lines or conduits such as buried
cable, submarine cable or buried wire, operated or used but not owned

by it within this State on the first day of January preceding;

* mn Number of miles of wire in each city, county, town and school
is ;

(4) Real and personal property, including the value of the telephone
instruments, switchboards, etc., and the value of telegraph instruments,
apparatus, etc., in each city, county, town or school district;

(5) The gross earnings and receipts in this State for the twelve
months ending December thirty-first next preceding. .

The report herein required shall be certified by the oath of the presi-
dent or other proper officer of the company making the same.

§ 58-586. Payment of taxes.—Any company assessed under any of
the provisions of this article shall pay into the State treasury by the first
day of * June following the taxes assessed against it.

§ 58-588. Report required.—Every corporation having the power of
eminent domain in this State and authorized by its certificate of incorpora-
tion to transmit natural gas in the public service by means of a pipe line
or pipe lines in this State, which pays no State franchise tax on its gross
receipts on account of the transmission of such natural gas shall report
annually on or before the * fifteenth day of * April to the State Corporation
Commission all of its real and personal property of every description,
tangible and intangible, as of the beginning of the first day of January
preceding, showing particularly in what city, town or county and school
district therein the property is located. This report shall be itemized as
provided for herein. Each such corporation shall also report the total
miles of mains located in this State.

The report herein required shall be verified by the oath of the presi-
dent or other proper officer or person making the same.

§ 58-590. Assessment by State Corporation Commission.—The State
Corporation Commission shall, after thirty days’ notice, previously given
the president or other proper person, assess the value of the property of
eet sual corporation and shall assess the franchise tax hereinafter pro-
vi or.

Should any such corporation fail to make the reports required by this
article on or before the * fifteenth day of * April of each year, the State
Corporation Commission shall, at such time as it may elect, upon the best
and most reliable information that can be procured, assess the value of
the property of such corporation and may, in the execution of such duty,
send for persons and papers.

The State Corporation Commission shall assess upon such property
the State taxes, if any, imposed thereon by law.

A certified copy of the assessment of State taxes when made shall be
immediately forwarded by the clerk of the State Corporation Commission
to the Comptroller and to the president or other proper officer of each
such corporation.

§ 58-591. Payment of State taxes.—Such corporation shall pay into
the State treasury by the first day of * June following the State taxes
assessed against it.

- § 58-607. Annual reports.—Any corporation doing in this State the
business of furnishing water or heat, light and power, whether by means
of electricity or gas, shall, on or before the * fifteenth day of * April of each
year, report to the Commission all of its real and personal property of
every description in this State belonging to it as of the beginning of the
first day of January preceding, showing particularly in what city, town
or county and school district therein the property is located. This report
shall include all water power rights and privileges, dams, flumes and
canals and shall be itemized as provided in §§ 58-608 and 58-609. Each
such corporation shall also report its gross receipts from all business done
CH. 69] ACTS OF ASSEMBLY 69

in this State for the year ending December thirty-first preceding. The

gross receipts to be reported and subject to taxation shall include those

received from incidental operations as well as those derived from the sale

of water or heat, light and power. The reports herein required shall be

made on forms and in the manner prescribed by the Commission and shall

4 certified by the oath of the president or other proper person making
e same.

§ 58-610. Assessment by Commission—The Commission shall, after
thirty days’ notice previously given to the president of the corporation or
other proper person, assess the value of the property of each such cor-
poration and shall assess the franchise tax herein provided for. .

Should any such corporation fail to make the reports required by this
article on or before the * fifteenth day of * April of each year, the Com-
mission shall at such time as it may elect, upon the best and most reliable
information that can be procured, assess the value of the property of such
corporation. In the execution of such duty it may send for persons and
papers and administer an oath to witnesses and examine the same. The
Commission shall, after thirty days’ notice previously given by it to the
president, treasurer or other proper officer of such corporation, proceed
to ascertain the value of the property and gross receipts so reported
upon the best and most reliable information that can be procured and
to this end may send for persons and papers. The Commission shall assess
upon the property and gross receipts the taxes imposed thereon by law.

§ 58-613. Payment of tax.—Every such corporation shall pay into
the State treasury by the first day of * June following the taxes assessed

it.

§ 58-622. Levy and payment of tax.—Such carrier shall pay into the
State treasury on or before the first day of * June, after receiving such
certified copy of the assessment, the State taxes hereby levied upon its
rolling stock at the rate of two dollars and fifty cents on each hundred
dollars of the assessed value thereof annually.

§ 58-878. Returns of intangible personal property * forwarded to
the Department.—All returns upon which are based assessments of in-
tangible personal property * shall be transmitted by the commissioner
of the revenue to the Department of Taxation at its office in Richmond,
after the commissioner of the revenue shall have extended upon his assess-
ment books the assessments thereon.

§ 58-961. When treasurer to receive taxes and levies without pen-
alty.—Each treasurer shall commence to receive the State taxes and local
levies as soon as he receives copies of the commissioner’s books and
continue to receive the same up to and including the fifth day of December
of each year. The assessment and collection of individual and fiduciary
tucome taxes being provided for in the chapter on income taxes, neither
this section, nor the two preceding sections, nor the four following sec-
tions, shall apply thereto.

§ 58-966. Prepayment of taxes and levies.—Any person, firm or cor-
poration desiring to pay any State taxes or local levies for any year prior
to the time the treasurer receives copies of the commissioner’s books
may pay the same to the treasurer and the treasurer shall give his receipt
therefor; but if such taxes or levies are of a kind requiring a return to
be filed with the commissioner of: the revenue in order that the correct
amount of taxes or levies may be computed, such person, firm or cor-
poration shall file such return with the commissioner of the revenue
before he pays such taxes or levies to the treasurer. In all cases covered
by this section the procedure as between the commissioner of the revenue
and the treasurer shall be as prescribed by the Department of Taxation
and the Auditor of Public Accounts, acting jointly. But nothing in this
section in conflict with the provisions of the charter of any city or town
70 ACTS OF ASSEMBLY [vA., 1956

in relation to local levies shall be construed as repealing such provisions.

he prepayment of individual and fiduciary income taxes being pro-

nial for in the chapter on income taxes, this section shall not apply
reto.

§ 58-978. Treasurer to make out lists of uncollectible taxes and de-
linquents.—The treasurer, after ascertaining which of the taxes and levies
assessed in his county or city cannot be collected, shall, not later than
the first day of August in each year, make out lists as follows:

(1) A list of real estate on the commissioner’s land book improperly
placed thereon or not ascertainable, with the amount of taxes and levies
charged thereon.

(2) A list of other real estate which is delinquent for the nonpay-
ment of the taxes and levies thereon.

(3) A list of such of the taxes and levies assessed on tangible per-
sonal property, machinery and tools and merchants’ capital, or other
subjects segregated for local taxation exclusively, except real estate, as
he is unable to collect, including local capitation taxes, if any.

(4) A list of such of the taxes on intangible personal property * as
he is unable to collect, excluding State capitation taxes.

(5) A list of unpaid State capitation taxes.

2. The foregoing provisions of this Act relating to income taxes
shall apply with respect to taxable years beginning after December
thirty-first, nineteen hundred and fifty-five; and the foregoing provisions
of this Act relating to the taxes on public service corporations shall
apply to the assessment and collection of such taxes for the tax year nine-
teen hundred and fifty-seven and for every tax year thereafter unti
otherwise provided by law

8. Sections 58-86.2, 58-86.8, 58-86.4, as amended, and 58-86.5 of the
Code of Virginia relating to contingent income tax credits, and Chapter
498 of the Acts of Assembly of 1950, Chapter 32 of the Acts of Assembly
of 1952, and Chapter 672 of the Acts of Assembly of 1954, from which
Chapters of the Acts of Assembly the said Sections 58-86.2, 58-86.8, 58-86.4
and 58-86.5 of the Code of Virginia were taken, are hereby repealed: but
this repeal shall not affect the allowability of any income tax credits here-
tofore proclaimed by the Governor under the legislation aforesaid in
August, 1951, August, 1952, August, 1958, and August, 1954.

4. Section 58-513 of the Code of Virginia is hereby repealed.