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2002 SESSION

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HJ 73 Study; sales and use tax exemption process.

Introduced by: Harry J. Parrish | all patrons    ...    notes | add to my profiles

SUMMARY AS PASSED: (all summaries)

Department of Taxation to collect information pertaining to the methods utilized for approving and administering sales and use tax exemption by the States of Maryland and North Carolina. Requests the Department of Taxation to collect information pertaining to the methods utilized for approving and administering sales and use tax exemptions by the States of Maryland and North Carolina. Specifically, the Department is requested to collect information on each state's procedures for (i) granting sales and use tax exemptions, (ii) issuing certificates or letters of exemption, (iii) ensuring proper use of such certificates, and (iv) dealing with the administration of the program. The Department shall primarily seek information pertaining to tax exemptions for nonprofit organizations but any information concerning other organizations' exemptions that would assist the General Assembly in policy decisions regarding sales and use tax exemptions should also be obtained.

The Department of Taxation shall provide no later than August 1, 2002, the information it has collected to the joint subcommittee to study and revise Virginia's state tax code, for inclusion in the joint subcommittee's report of its findings and recommendations to the Governor and the 2003 Session of the General Assembly.


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