2006 Code of Virginia § 58.1-2231 - Remittance of tax to supplier

58.1-2231. Remittance of tax to supplier.

A. A distributor shall remit tax due on motor fuel removed at a terminal rackto the supplier of the fuel. A licensed distributor shall not be required toremit the tax to the supplier until the date the supplier is required to paythe tax to the Commonwealth or to another state. All tax payments received bya supplier shall be held in trust by the supplier until the supplier remitsthe tax payment to the Commonwealth or to another state, and the suppliershall constitute the trustee for such tax payments. The date by which anunlicensed distributor is required to remit the tax to a supplier shall begoverned by agreement between the supplier and the unlicensed distributor.

B. A licensed exporter shall remit tax due on motor fuel removed at aterminal rack to the supplier of the fuel. The date by which an exportershall remit tax shall be governed by the law of the destination state of theexported motor fuel.

C. A licensed importer shall remit tax due on motor fuel removed at aterminal rack of a permissive or an elective supplier to the supplier of thefuel. A licensed importer who removes fuel from a terminal rack of apermissive or an elective supplier shall not be required to remit the tax tothe supplier until the date the supplier is required to pay the tax to theCommonwealth.

D. The license of a licensed distributor, exporter or importer who fails topay the full amount of tax required by this chapter is subject tocancellation as provided in 58.1-2215.

(2000, cc. 729, 758.)