Income and property taxes

Va. Code Ann. § 13.1-1120
in effect
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All professional limited liability companies organized or qualifying under the provisions of this chapter shall be treated for income tax purposes under the provisions of Chapter 3 (§ 58.1-300 et seq.) of Title 58.1 in the manner determined under § 58.1-301 , and property owned by professional limited liability companies shall be taxed in the actual form in which it may exist and not as capital. 1992, c. 574.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://law.lis.virginia.gov/vacode/13.1-1120/Fetched: 10/16/2026

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