{"data":{"id":"us-va/va.-const.-art.-x-section-5","jurisdiction":"us-va","citation":"Va. Const. art. X, § Section 5.","heading":"Franchise taxes; taxation of corporate stock.","body":"The General Assembly, in imposing a franchise tax upon corporations, may in its discretion make the same in lieu of taxes upon other property, in whole or in part, of such corporations. Whenever a franchise tax shall be imposed upon a corporation doing business in this Commonwealth, or whenever all the capital, however invested, of a corporation chartered under the laws of this Commonwealth shall be taxed, the shares of stock issued by any such corporation shall not be further taxed.","path":["Virginia Constitution","Article X. Taxation and Finance"],"source_url":"https://law.lis.virginia.gov/vacode/","current_through":"9/4/2026","vintage":"","retrieved_at":"2026-09-04T15:18:29Z","sha256":"d984505579aac2c50a3943520c3284e7b7fb31b69646d2f6a744a86eafdd2b2d","source_id":"us-va","stale":true,"prev":"us-va/va.-const.-art.-x-section-4","next":"us-va/va.-const.-art.-x-section-6"},"notice":"GroundRules: Original legal text. Not legal advice."}