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2019 SESSION

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19103011D
SENATE BILL NO. 1615 Offered January 9, 2019 Prefiled January 9, 2019 A BILL to amend the Code of Virginia by adding a section numbered 58.1-626.1, and to repeal § 58.1-626, as it is currently effective and as it shall become effective, of the Code of Virginia, relating to retail sales and use tax; absorption of tax by a dealer. ---------- Patron-- McDougle ---------- Referred to Committee on Finance ----------

Be it enacted by the General Assembly of Virginia:

1. That the Code of Virginia is amended by adding a section numbered 58.1-626.1 as follows:

§ 58.1-626.1. Absorption of tax permitted.

A. A dealer may absorb and assume payment of all or any part of the sales or use tax otherwise due from the purchaser, consumer, or lessee.

B. A dealer shall separately state the sales price of an item and the full amount of sales and use tax due on such item at the point of the sale or transaction, even if the dealer intends to absorb and assume the amount of tax due.

C. For each sale for which the dealer absorbs and assumes all or any part of the sales and use tax due, the dealer shall remit to the Department the full amount of tax due with the return that covers the period in which the dealer completed the sale or transaction.

2. That § 58.1-626 of the Code of Virginia, as it is currently effective and as it shall become effective, is repealed.