§ 46.2-1404. Ridesharing payments or transit reduced fares are not income
Money and other benefits, other than salary, received by a driver in a ridesharing arrangement using a motor vehicle with a seating capacity for not more than fifteen persons, including the driver, shall not constitute income for the purpose of Chapter 3 (§ 58.1-300 et seq.) of Title 58.1 imposing taxes on income. Regular payments by riders toward a capital recovery fund not exceeding the cost of the vehicle or used to pay for leasing the vehicle shall be considered reimbursement for eligible expenses of operation. Neither shall the difference in the amount between discount and full transit fares constitute income for the purpose of Chapter 3 of Title 58.1 imposing taxes on income.
(1981, c. 218, § 46.1-560; 1989, c. 727; 2002, c. 337.)
Sections: Previous 46.2-1400 46.2-1401 46.2-1402 46.2-1403 46.2-1404 46.2-1405 46.2-1406 46.2-1407 NextLast modified: April 16, 2009