(A) On or after January 1 of each year, but not later than March 1 of any such year, all banks whose principal offices are located within this town shall prepare and file with the Commissioner of the Revenue a return as provided by VA Code, § 58.1-1207, in duplicate, which shall set forth the tax on net capital computed pursuant to VA Code, §§ 58.1-1200 et seq. The Commissioner of the Revenue shall certify a copy of the bank’s return and schedules and shall forthwith transmit the certified copy to the State Department of Taxation.
(B) If the principal office of a bank is located outside the corporate boundaries of this town and the bank has branch offices located within this town, in addition to the filing requirements set forth in division (A) of this section, any bank conducting the branch business shall file with the Clerk/Treasurer a copy of the real estate deduction schedule, apportionment and other items which are required by VA Code, §§ 58.1-1207, 58.1-1211 and 58.1-1212.
(C) Each bank, on or before June 1 of each year, shall pay into the Clerk/Treasurer’s office of this town all taxes imposed pursuant to this subchapter.
(1997 Code, § 62-88)
Statutory reference:
Filing of return and payment of tax, see
VA Code, § 58.1-1207