Va. Code § 58.1-622

Current with changes from the 2024 legislative session through ch. 845
Section 58.1-622 - Discount

For the purpose of compensating a dealer holding a certificate of registration under § 58.1-613 for accounting for and remitting the tax levied by this chapter, such dealer shall be allowed the following percentages of the first three percent of the tax levied by §§ 58.1-603 and 58.1-604 and accounted for in the form of a deduction in submitting his return and paying the amount due by him if the amount due was not delinquent at the time of payment.

Monthly Taxable Sales

Percentage

$0 to $62,500

4%

$62,501 to $208,000

3%

$208,001 and above

2%

The discount allowed by this section shall be computed according to the schedule provided, regardless of the number of certificates of registration held by a dealer.

Va. Code § 58.1-622

Code 1950, § 58.441.25; 1966, c. 151; 1984, c. 675; 1986, Sp. Sess., c. 12; 1989, c. 469; 2008, c. 488.
Amended by Acts 2008, § c. 488.
Amended by Acts 1989, § c. 469.
Amended by Acts 1986, § Sp. Sess., c. 12.
Amended by Acts 1984, § c. 675.
Amended by Acts 1966, § c. 151.