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The Commissioner of the Revenue is one of five locally elected constitutional officers whose authority is specifically conveyed in the Virginia Constitution. [1] The other four are the treasurer, sheriff, Commonwealth's attorney, and clerk. In general, the local governing body (i.e. City Council, Board of Supervisors) establishes tax policy and ...
Jurisdiction. Virginia. Headquarters. Richmond, Virginia. Employees. 430. Annual budget. $99.5m USD (2021) The Virginia Department of Taxation is the executive branch agency of the state government responsible for taxation in the state of Virginia in the United States. [1][2][3][4]
The State Corporation Commission, or SCC, is a Virginia (USA) regulatory agency whose authority encompasses utilities, insurance, state-chartered financial institutions, securities, retail franchising, and railroads. It is the state's central filing office for corporations, limited partnerships, limited liability companies and Uniform ...
A franchise tax is a government levy (tax) charged by some US states to certain business organizations such as corporations and partnerships with a nexus in the state. A franchise tax is not based on income. Rather, the typical franchise tax calculation is based on the net worth of capital held by the entity. The franchise tax effectively ...
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Texas – no individual income tax but imposes a franchise tax on corporations. In May 2007, the legislature modified the franchise tax by enacting a modified gross margin tax on certain businesses (sole proprietorships and some partnerships were automatically exempt; corporations with receipts below a certain level were also exempt as were ...
A comptroller (pronounced either the same as controller or as / kəmpˈtroʊlər /) is a management -level position responsible for supervising the quality of accounting and financial reporting of an organization. A financial comptroller is a senior-level executive who acts as the head of accounting, and oversees the preparation of financial ...
In the first, a tax imposed by the state of Virginia on American business concerns operating within the state was struck down because it was a business privilege tax imposed on the privilege of doing business in interstate commerce. But then, in the second, Virginia revised the wording of its statute to impose a "franchise tax" on "intangible ...