Agencies | Governor
Virginia Regulatory Town Hall
Agency
Department of Taxation
Guidance Document Information
Title 2017 Accelerated Sales Tax Guidelines
Document ID Guidelines
Summary House Bill 1500 (Acts of Assembly 2017, Chapter 836) maintains the accelerated sales tax threshold at taxable sales and/or purchases of $2.5 million or greater in the previous fiscal year for the accelerated sales tax payment due in June 2017. The threshold will increase to taxable sales and/or purchases of $4 million or greater in the previous fiscal year for the accelerated sales tax payment due in June 2018. Each Dealer meeting this threshold is required to make a payment in June equal to 90 percent of its Retail Sales and Use Tax liability for June of the previous year.
Latest Revision 5/2/2017
pdf View document text     Posted On 5/3/2017                 Document on Town Hall

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