§ 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.
(Code 1950, § 58.441.25; 1966, c. 151; 1984, c. 675; 1986, Sp. Sess., c. 12; 1989, c. 469; 2008, c. 488.)
Sections: Previous 58.1-615 58.1-616 58.1-617 58.1-618 58.1-619 58.1-620 58.1-621 58.1-622 58.1-623 58.1-623.1 58.1-624 58.1-625 58.1-625.1 58.1-626 58.1-627 NextLast modified: April 16, 2009