Agencies | Governor
Virginia Regulatory Town Hall
Agency
Department of Taxation
Guidance Document Information
Title 2015 Accelerated Sales Tax Guidelines
Document ID Guidelines
Summary Effective beginning with the accelerated sales tax payment due in June, 2015, House Bill 1400 (Acts of Assembly 2015, Chapter 665) decreases the accelerated sales tax threshold to taxable sales and/or purchases of $2.5 million or greater in the previous fiscal year. Dealers and direct payment permit holders (“Dealers”) meeting this threshold are required to make an accelerated sales tax payment in June equal to 90 percent of their Retail Sales and Use Tax liability for June of the previous year.
Latest Revision 4/22/2015
pdf View document text     Posted On 5/3/2017                 Document on Town Hall

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