When cargo in transit not deemed to have acquired a situs for taxation

1. Law
2. Code of Virginia
3. Taxation
4. Tangible Personal Property, Machinery and Tools and Merchants' Capital
5. When cargo in transit not deemed to have acquired a situs for taxation

Cargo, merchandise and equipment in transit which is stored, located or housed temporarily in a marine or airport terminal prior to being transported by vessels or aircraft to a point outside the Commonwealth, shall not acquire a situs for property taxation by the Commonwealth or any of its counties, cities or towns.

Code 1950, § 58-834.3; 1983, c. 225; 1984, c. 675.

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