§ 58.1-1507. Election by commercial dealer; revocation; eligibility
Any person holding a commercial dealer's license issued by the Department of Aviation who desires to be subject to the tax imposed by subdivision 3 of § 58.1-1502 shall notify the Commissioner in writing of such election. The election may be made at or before the time for filing a return as required by § 58.1-1506.
An election shall be revocable only by permission of the Commissioner. Upon revocation of an election, the tax imposed under subdivisions 1 and 2 of § 58.1-1502 shall immediately become due and payable. Any person who so revokes an election shall be ineligible to make an election under this section for two years following such revocation.
(Code 1950, § 58-685.30; 1974, c. 431; 1975, c. 424; 1977, c. 396; 1984, c. 675.)
Sections: Previous 58.1-1500 58.1-1501 58.1-1502 58.1-1503 58.1-1504 58.1-1505 58.1-1506 58.1-1507 58.1-1508 58.1-1509 58.1-1510 NextLast modified: April 16, 2009