# Va. Const. art. X, § 5: Va. Const. art. X, § 5. Franchise taxes; taxation of corporate stock

> Virginia · Constitutions · In force

URL: https://www.frixlaw.com/law-library/statutes/SCONST_VA_AX_S5

## Section

- **Citation:** Va. Const. art. X, § 5
- **Heading:** Va. Const. art. X, § 5. Franchise taxes; taxation of corporate stock
- **Jurisdiction:** Virginia
- **Kind:** Constitutions
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** Article X / Section 5

## Text

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.

## Nearby sections

- [Va. Const. art. X, § 1 Va. Const. art. X, § 1. Taxable property; uniformity; classification and segregation](https://www.frixlaw.com/law-library/statutes/SCONST_VA_AX_S1.md)
- [Va. Const. art. X, § 2 Va. Const. art. X, § 2. Assessments](https://www.frixlaw.com/law-library/statutes/SCONST_VA_AX_S2.md)
- [Va. Const. art. X, § 3 Va. Const. art. X, § 3. Taxes or assessments upon abutting property owners](https://www.frixlaw.com/law-library/statutes/SCONST_VA_AX_S3.md)
- [Va. Const. art. X, § 4 Va. Const. art. X, § 4. Property segregated for local taxation; exceptions](https://www.frixlaw.com/law-library/statutes/SCONST_VA_AX_S4.md)
- [Va. Const. art. X, § 5 Va. Const. art. X, § 5. Franchise taxes; taxation of corporate stock](https://www.frixlaw.com/law-library/statutes/SCONST_VA_AX_S5.md)
- [Va. Const. art. X, § 6 Va. Const. art. X, § 6. Exempt property](https://www.frixlaw.com/law-library/statutes/SCONST_VA_AX_S6.md)
- [Va. Const. art. X, § 6-A Va. Const. art. X, § 6-A. Property tax exemption; certain veterans and their surviving spouses; surviving spouses of soldiers who died in the line of duty](https://www.frixlaw.com/law-library/statutes/SCONST_VA_AX_S6-A.md)
- [Va. Const. art. X, § 6-B Va. Const. art. X, § 6-B. Property tax exemptions for spouses of certain emergency services providers](https://www.frixlaw.com/law-library/statutes/SCONST_VA_AX_S6-B.md)
- [Va. Const. art. X, § 7 Va. Const. art. X, § 7. Collection and disposition of State revenues](https://www.frixlaw.com/law-library/statutes/SCONST_VA_AX_S7.md)
- [Va. Const. art. X, § 7-A Va. Const. art. X, § 7-A. Lottery Proceeds Fund; distribution of lottery revenues](https://www.frixlaw.com/law-library/statutes/SCONST_VA_AX_S7-A.md)
- [Va. Const. art. X, § 8 Va. Const. art. X, § 8. Limit of tax or revenue; Revenue Stabilization Fund](https://www.frixlaw.com/law-library/statutes/SCONST_VA_AX_S8.md)
- [Va. Const. art. X, § 9 Va. Const. art. X, § 9. State debt](https://www.frixlaw.com/law-library/statutes/SCONST_VA_AX_S9.md)
- [Va. Const. art. X, § 10 Va. Const. art. X, § 10. Lending of credit, stock subscriptions, and works of internal improvement](https://www.frixlaw.com/law-library/statutes/SCONST_VA_AX_S10.md)
- [Va. Const. art. X, § 11 Va. Const. art. X, § 11. Governmental employees retirement system](https://www.frixlaw.com/law-library/statutes/SCONST_VA_AX_S11.md)

---

Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/SCONST_VA_AX_S5. Check the current official text before relying on it. Not legal advice.