(A) On or after January 1 of each year, but not later than March 1 of any year, all banks whose principal offices are located within the town shall prepare and file with the Town Clerk a return, as provided by VA Code § 58.1-1207, in duplicate, which shall set forth the tax on net capital computed pursuant to Chapter 12, Title 58.1 (VA Code §§ 58.1-1200 et seq.). The Town Clerk shall certify a copy of such filing of the bank’s return and schedule and shall forthwith transmit the certified copy to the state department of taxation.
(B) In the event that the principal office of a bank is located outside the corporate boundaries of the town and such bank has branch offices located within the town, in addition to the filing requirements set forth in division (A) above, any bank conducting such branch business shall file with the Town Clerk 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.
(1996 Code, § 148-19)