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1995 SESSION

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SB 648 Sales tax exemption; printed matls. purchased by advertng. businesses.

Introduced by: Walter A. Stosch | all patrons    ...    notes | add to my profiles

SUMMARY:

Sales tax exemption; printed materials purchased by advertising businesses. Extends the temporary storage exemption for advertising materials that are acquired for distribution in other states by out-of-state advertisers to include such materials acquired by in-state advertisers. The measure also exempts from the sales and use tax, sales of advertising supplements by printers to advertising businesses if the materials are distributed as part of exempt publications. Currently, Virginia-based advertising businesses are required to pay sales and use tax on printed materials to be distributed outside Virginia, though out-of-state advertisers are exempt from the tax. The exemption will expire on June 30, 1997. Upon request by the Tax Commissioner, the advertising agency must certify that the advertising materials were distributed outside the Commonwealth and such certification must be retained by the advertising agency.


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