Code of Virginia § 10.1-1803. Gifts, devises and bequests.
61 words·~1 min read·
/va/title-10-1/chapter-18/10-1-1803·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Gifts, devises or bequests, whether personal or real property, and the income therefrom, accepted by the Foundation, shall be deemed to be gifts to the Commonwealth, which shall be exempt from all state and local taxes, and shall be regarded as the property of the Commonwealth for the purposes of all tax laws.
1966, c. 525, § 10-165; 1988, c. 891.