Statutory authority for the taxation of public service corporations
is outlined in Title 58.1, Chapter 26 of the Code of Virginia.
Virginia Code also provides for the electric and natural gas
consumption tax as outlined in Title 58.1, Chapter 29 and Chapter 29.1, respectively.
Statutory authority for the Minimum Tax on telecommunications
companies and certain electric suppliers is contained in Title 58.1, Chapter 3, Article 10, of the Code of Virginia.
- The following legislation was passed during the 2017 session
of the General Assembly and became effective January 1, 2019:
- Payment of Estimated License Tax - SB1025 Repeals Article 4 of Chapter 26 of Title 58.1 of the Code of Virginia. Repeals provisions requiring that certain public service corporations make quarterly payments of estimated state license taxes to the State Corporation Commission.
For the detail text of each bill, visit the Virginia General
Assembly site and enter the bill number.
The Supreme Court of Virginia upholds the State Corporation
Commission's assessment and dismisses the application by Gordonsville Energy, L.P.