Daily rental property tax; definition. (SB1419)

Introduced By

Progress

√	Introduced
√	Passed Committee
√	Passed House
√	Passed Senate
√	Signed by Governor
√	Became Law

Description

Merchants' capital tax. Deems rented merchants' capital under contracts giving both the lessor and the lessee the right to terminate at any time to be daily rental property. Under current law, persons engaged in the short-term rental business cannot be taxed in an amount that exceeds one percent of the gross proceeds from daily rental property. Amends § 58.1-3510 (“(Effective until July 1, 2012) Definition of merchants\u2019 capital.”), of the Code of Virginia. View Full Text »

Outcome

Bill Has Passed

View Bill's History

Video

This bill was discussed on the floor of the General Assembly. Below is all of the video that we have of that discussion, 1 clip in all, totaling 6 minutes. Click the image of the video to play it.

Duplicate Bills

The following bills are identical duplicates of this one: HB2472.

Poll Results

No Richmond Sunlight visitors voted on this bill while voting was open.

Bill Text

Related Bills

HB2587
Introduced: January 22, 2009
Status: Failed to Pass in Committee
: Transient occupancy tax; any county ordinance may levy on single-family residences rented out.
SB1029
Introduced: January 13, 2009
Status: Failed to Pass in Committee
: Transient occupancy tax; any county ordinance may levy on single-family residences rented out.
SB471
Introduced: January 09, 2008
Status: Failed to Pass in Committee
: Short-term real property rental businesses; taxations applied.
SJ60
Introduced: January 08, 2008
Status: Failed to Pass in Committee
: Constitutional amendment; assessment of real property for tax purposes (first reference).
HB230
Introduced: December 28, 2007
Status: Failed to Pass in Committee
: Retail Sales and Use Tax; exempts contractor when property used to construct, etc. public schools.

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