2006 Code of Virginia § 58.1-622 - Discount
58.1-622. Discount.
For the purpose of compensating a dealer holding a certificate ofregistration under 58.1-613 for accounting for and remitting the tax leviedby this chapter, such dealer shall be allowed the following percentages ofthe first three percent of the tax levied by 58.1-603 and 58.1-604 andaccounted for in the form of a deduction in submitting his return and payingthe amount due by him if the amount due was not delinquent at the time ofpayment.
MonthlyTaxableSalesPercentage
$0to$62,5004%
$62,501to$208,0003%
$208,001andabove2%
The discount allowed by this section shall be computed according to theschedule provided, regardless of the number of certificates of registrationheld by a dealer.
(Code 1950, 58.441.25; 1966, c. 151; 1984, c. 675; 1986, Sp. Sess., c. 12;1989, c. 469.)
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