SEARCH SITE
VIRGINIA LAW PORTAL
- Code of Virginia
- Virginia Administrative Code
- Constitution of Virginia
- Charters
- Authorities
- Compacts
- Uncodified Acts
- RIS Users (account required)
SEARCHABLE DATABASES
- Bills & Resolutions
session legislation - Bill Summaries
session summaries - Reports to the General Assembly
House and Senate documents - Legislative Liaisons
State agency contacts
ACROSS SESSIONS
- Subject Index: Since 1995
- Bills & Resolutions: Since 1994
- Summaries: Since 1994
Developed and maintained by the Division of Legislative Automated Systems.
2019 SESSION
19100751DBe it enacted by the General Assembly of Virginia:
1. That § 58.1-1402 of the Code of Virginia is amended and reenacted as follows:
§ 58.1-1402. Tax levied.
There is hereby levied and imposed, in addition to all other
taxes and fees of every kind now imposed by law, a tax upon the sale of every
watercraft sold in this the Commonwealth, upon the use
in this the
Commonwealth of any watercraft, and upon
the gross receipts from the lease, charter,
or other use of any watercraft by a registered dealer in this the Commonwealth. The amount
of the tax to be collected shall be determined by applying
the following rate against the sale price,
market value, or gross receipts 1.95 percent of:
1. Two percent of the The sale price of each
watercraft sold in the Commonwealth.
2. Two percent of the The sale price of each
watercraft not sold in the Commonwealth but required to be titled in the Commonwealth.
However, if the watercraft is first required to be titled in the Commonwealth
six months or more after its acquisition, the tax shall be
two percent of applied to
the market value of such watercraft at the time it is titled.
3. Two percent of the The gross receipts from the
lease, charter, or other use of any
watercraft by a registered dealer.
The maximum tax
levied under subdivisions 1 and 2 of this section shall be $2,000. A
transaction taxed under subdivision 1 shall not be taxed under subdivision 2 or
3, nor shall the same transaction be taxed more than once under either
subdivision 1, 2, or 3. Use of any watercraft
by a registered dealer resulting in taxation under subdivision 3 shall not
exempt any subsequent sale or use of such watercraft from being taxed under
subdivision 1 or 2 if applicable.