(a) On or after the first day of January of each year, but not later than March first of any such year, all banks whose principal offices are located within the county, but outside any incorporated town therein, shall prepare and file with the commissioner of the revenue a return, in duplicate, as provided by section 58.1-1207, Code of Virginia, which shall set forth the tax on net capital computed pursuant to chapter 12 of title 58.1, Code of Virginia. The commissioner of the revenue shall certify a copy of such filing of the bank’s return and schedules and shall forthwith transmit such certified copy to the state department of taxation.

(b) In the event that the principal office of a bank is located outside the boundaries of the county or within any town located therein, and such bank has a branch office or offices located within the county, in addition to the filing requirements set forth in subsection (a) hereof, any bank conducting such branch business shall file with the commissioner of the revenue a copy of the real estate deduction schedule, apportionment and other items which are required by sections 58.1-1207, 58.1-1211, and 58.1-1212, Code of Virginia.

(Ord. No. O98-12, 8/5/98)