2006 Code of Virginia § 58.1-2257 - Duties of provider of alternative fuel as trustee

58.1-2257. Duties of provider of alternative fuel as trustee.

A. All tax payments due to the Commonwealth received by a provider ofalternative fuel pursuant to 58.1-2252 shall be held by the provider ofalternative fuel as trustee in trust for the Commonwealth, and a provider ofalternative fuel has a fiduciary duty to remit to the Commissioner the amountof tax received by the provider of alternative fuel. A provider ofalternative fuel shall be liable for the taxes paid to him.

B. A provider of alternative fuel shall notify a bulk user of alternativefuel or retailer of alternative fuel who has posted a bond in accordance with 58.1-2246 and who received alternative fuel from the provider ofalternative fuel during a reporting period of the number of taxable gallonsor equivalent taxable gallons received. The provider of alternative fuelshall give this notice after the end of each reporting period and before thelicensee is required to remit to the provider of alternative fuel the amountof tax due on the fuel.

C. A provider of alternative fuel shall notify the Commissioner within tenbusiness days after a return is due of any licensed bulk user of alternativefuel or retailer of alternative fuel who (i) has posted a bond in accordancewith 58.1-2246 and (ii) did not pay the tax due the provider of alternativefuel when the provider filed his return. The notice shall be transmitted tothe Commissioner in the form required by the Commissioner.

D. A provider of alternative fuel who receives a payment of tax shall notapply the payment to a debt that the person making the tax payment owes tothe provider of alternative fuel for alternative fuel purchased from theprovider of alternative fuel.

(2000, cc. 729, 758.)