{"data":{"id":"us-va/23vac10-500-410","jurisdiction":"us-va","citation":"23VAC10-500-410","heading":"Financial services; banks","body":"Although they render financial services:\n\n1. Banks and trust companies subject to the Virginia bank franchise tax are exempt from local license tax by § 58.1-1202 of the Code of Virginia except as to sales of tangible personal property;\n\n2. Savings institutions (including those whose name includes \"savings bank\") and state chartered credit unions are limited to a local license tax of $50 by § 58.1-3730 of the Code of Virginia; and\n\n3. Federal credit unions are exempt under the Federal Credit Union Act, 12 USC § 1768.","path":["Title 23. Taxation","Agency 10. Department of Taxation","Chapter 500. Business, Professional and Occupational License Tax Regulations"],"source_url":"https://law.lis.virginia.gov/admincode/title23/agency10/chapter500/section410/","current_through":"2026 Regular Session (effective July 1, 2026)","vintage":"","retrieved_at":"2026-09-14T04:54:18Z","sha256":"e41c536b8d856975370b28d097e9e527f47f1383377196bb439b6bf9858e8aed","source_id":"us-va-vac","stale":false,"prev":"us-va/23vac10-500-400","next":"us-va/23vac10-500-420"},"notice":"GroundRules: Original legal text. Not legal advice."}