CHAPTER 462

Virginia, relating to definitions generally for State income
purposes. Oe

An Act to amend and reenact § 58-77, as amended, of the Code of

[H 3895]
Approved April 2, 1968

Be it enacted by the General Assembly of Virginia:

1. That § 58-77, as amended, of the Code of Virginia be amended and
reenacted as follows:

§ 58-77. Definitions generally.—For the purpose of this chapter and
unless otherwise required by the context:

(1) The word “taxpayer” includes any person, corporation, partner-
ship, trust or estate subject to a tax imposed by this chapter.

(2) The word “corporation” includes corporations, joint stock com-
panies, associations and all enterprises operated by trustees, the interest
in which is evidenced by shares of stock, whether with or without par,
face or nominal value.

(3) The word “partnership” includes all co-partnerships, whether
general or special, and whether limited or unlimited. It includes also all
joint enterprises.

(4) The word “individual” means all natural persons whether mar-
ried or unmarried and also all trusts, estates and fiduciaries acting for
natural persons. It does not include corporations or partnerships acting
for or in their own behalf.

(5) The words “taxable year” mean the calendar year or the fiscal
year ending during such calendar year upon the basis of which the net
income is computed under this chapter. The term “taxable year” includes,
in the case of a return made for a fractional part of a year under the
provisions of this chapter, the period for which such return is made.

The words “fiscal year’? mean an accounting period of twelve

months ending on the last day of any month other than December.
(7) The word “fiduciary” means a guardian, trustee, executor, admin-
istrator, committee, receiver or any other person, whether individual or
corporate, acting in any fiduciary capacity for any person, trust or estate.

(8) (a) The word “resident” applies only to natural persons and
includes, for the purpose of determining liability to the taxes imposed by
this chapter upon the income of any taxable year every person domiciled
in this State * at any time during the taxable year and every other
person who, for * an aggregate of more than one hundred eighty-three
days of the taxable year, maintained his place of abode within this
State, whether domiciled in this State or not.

(db) * Any person, however, who, during the taxable year, becomes
a resident of this State, whether domiciliary or actual, for purposes of
income taxation, by moving to this State from without this State during
such taxable year, shall be taxable * as a resident for only that portion of
the taxable year during which he was a resident of this State and his
personal exemptions shall be reduced to an amount which bears the same
ratio to the full exemptions as the number of days during which he was
a resident of this State bears to three hundred sixty-five days. No
person to whom * this sub-paragraph applies shall be entitled to any
credit on his income tax payable to this State for any income tax paid to
the State or other jurisdiction of his former domicile or actual residence
for that part of the taxable year during which he was a domiciliary or
actual resident of such other state or jurisdiction, notwithstanding the
provisions of § 58-103.

(c) Any person who, on or before the last day of the taxable year,
changes his place of abode to a place without this State with the bona
fide intention of continuing actually to abide permanently without this
State shall be taxable as a resident for only that portion of the taxable
year during which he was a resident of this State and his personal exemp-
tions shall be reduced to an amount which bears the same ratio to the full
exemptions as the number of * days during which he was a resident of
this State bears to * three hundred and sixty-five days. The fact that a
person who has so changed his place of abode, within six months from so
doing again abides within this State, shall be prima facie evidence that he
did not intend permanently to have his place of abode without this State. *

(d) Any person who is taxable as a resident of this State for only a
portion of a taxable year because he moved to this State from without this
State during the taxable year as set out in sub-paragraph (b), or because
he changed his place of abode during the taxable year to a place without
this State with the bona fide intention of continuing actually to abide
permanently without this State as set out in sub-paragraph (c), and who
as a nonresident of this State for any other part of the taxable year
derived income from any property owned or from any business, trade,
profession or occupation carried on in this State shall be taxable as a non-
resident with respect to such income as provided in § 58-101.

(9) The word “dividend” means any distribution made by a corpora-
tion out of its earnings or profits to its shareholders or members, whether
such distribution be made in cash or in other property, other than stock
in the corporation.
(10) The word “include” when used in a definition contained in this
chapter shall not be deemed to exclude other things otherwise within the
meaning of the term defined.

This section, as hereby amended, shall apply with respect to taxable
years beginning after December thirty-one, nineteen hundred sixty-seven.