58.1-1204 - Rate of tax.
§ 58.1-1204. Rate of tax.
The franchise tax imposed under this chapter shall be at the rate of $1 oneach $100 of net capital as hereinafter defined. There shall be no deductionin respect to shares owned by exempt institutions.
(Code 1950, § 58-485.06; 1980, c. 578; 1981, c. 432; 1984, c. 675.)