Bank Franchise Tax
Newport News Bank Franchise Tax
City of Newport News Code of Ordinances §40-72.
The City of Newport News imposes upon each bank located within the boundaries of the city a tax on net capital equaling 80% of the state rate of franchise tax set forth in §58.1-1204 of the Code of Virginia.
In the event that any bank located within the boundaries of the city is not the principal office but is a branch extension or affiliate of the principal office, the tax upon such branch shall be apportioned as provided by §58.1-1211 of the Code of Virginia.
On or after the first day of January of each year, but not later than April first of any such year, all banks whose principal offices are located within this city shall prepare and file a return in duplicate as provided in §58.1-1207 of the Code of Virginia.
In the event that the principal office of a bank is located outside the boundaries of the city and such bank has branch offices located within the city, in addition to the filing requirements set forth above, any bank conducting such branch business shall file a copy of the real estate deduction schedule, apportionment and other items which are required in §58.1-1207, §58.1-1211 and §58.1-1212 of the Code of Virginia.
The due date for the payment of the bank franchise tax is June 1 of each year.
For assistance with bank franchise tax, please call 757-926-8752.
Contact Us
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Tiffany Boyle, Commissioner of the Revenue
Biography
For General Inquiries:
commish@nnva.gov
Downtown Office
2400 Washington Ave.
Newport News, VA 23607
Main Office:
757-926-8752
Fax:
757-247-2628
Department Contact
Business License:
757-926-8651
busl@nnva.gov
Personal Property:
757-926-8657
pp@nnva.gov
Related Taxes:
757-926-8644
brtx@nnva.gov
Real Estate Tax Relief:
757-926-3535
taxrelief@nnva.gov
State Income:
757-926-8653
stateincome@nnva.gov
Compliance:
757-926-8644
Denbigh Office
12912 Jefferson Ave.
Newport News, VA 23608 Office:
757-886-7671
Fax:
757-886-7670
DMV Select
Phone:
804-497-7100
DMV Select Hours:
Monday - Friday
8:30AM - 4PM
Visit the DMV Now website
Dropbox
For your convenience a 24-Hour Dropbox is located at each office location.
City Hall Office
2400 Washington Ave
Located at the front of the building to the left of the entry doors.
Denbigh Satellite Office
12912 Jefferson Ave
Located on the west side of the building near the drive-thru window.City Center (Dropbox only)
700 Town Center Dr
Accessible Mon-Fri 8a-5p
Schedule an Appointment
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