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2015 SESSION

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HB 1724 Forest products; revision of definition, changing of tax on all products.

Introduced by: C. Matthew Fariss | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Forest products tax. Makes several changes to the forest products tax, including (i) revising the definition of a taxable "forest product" as wood derived from trees severed for commercial purposes; (ii) revising the definition of "manufacturer" liable for the tax as any person that uses, consumes, processes, or stores forest products for commercial purposes at a fixed place of business; (iii) providing that the first manufacturer using, consuming, processing, or storing the forest product is liable for the tax and that severers of wood are liable for the tax on sales to unregistered manufacturers; (iv) changing the forest products tax on wood chips, currently assessed per 100 pounds of roundwood, and mulch to $0.20 per ton for pine, $0.04 per ton for other species, and $0.10 per ton for loads consisting of both pine and other species; (v) changing the alternative forest products tax on wood chips, currently assessed per 100 pounds of roundwood, and mulch to $0.026 per ton for pine, $0.04 per ton for other species, and $0.03 per ton for loads consisting of both pine and other species; and (vi) requiring severers of wood to file tax returns and retain records relating to the tax.


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