SB181: Retail Sales and Use Tax; use tax be reported annually.


SENATE BILL NO. 181
AMENDMENT IN THE NATURE OF A SUBSTITUTE
(Proposed by the Senate Committee on Finance
on February 7, 2012)
(Patron Prior to Substitute--Senator Stuart)
A BILL to amend the Code of Virginia by adding a section numbered 58.1-604.01, relating to the payment of use tax.

Be it enacted by the General Assembly of Virginia:

1.  That the Code of Virginia is amended by adding a section numbered 58.1-604.01 as follows:

§ 58.1-604.01. Filing return; payment of use tax.

Any person owing the consumer use tax pursuant to §§ 58.1-604 and 58.1-606 shall report the amount owed on forms furnished by the Tax Commissioner, and remit the amount of tax due, by May 1 of each year.

SENATE BILL NO. 181

Offered January 11, 2012
Prefiled January 10, 2012
A BILL to amend and reenact § 58.1-604.2 of the Code of Virginia, relating to sales and use tax; remittance of use tax.
Patron-- Stuart

Referred to Committee on Finance

Be it enacted by the General Assembly of Virginia:

1.  That § 58.1-604.2 of the Code of Virginia is amended and reenacted as follows:

§ 58.1-604.2. Filing return; payment of tax.

Before any property subject to the use tax is brought into this the Commonwealth for use as provided in § 58.1-604.1, the owner, or, if the property is leased, the lessee shall register with the Tax Commissioner or the local commissioner of the revenue, if the local commissioner elects to provide such service.

After registration, the taxpayer shall file quarterly annual reports on forms furnished by the Tax Commissioner reporting such property brought, imported, or caused to be brought into this the Commonwealth during the preceding quarter 12-month period together with remittance of the amount of tax due. Such reports are to be filed on or before the fifteenth of the month following the quarter 12-month period in which such property was brought into this the Commonwealth. The reports and remittances shall be filed at the same time the taxpayer files his annual income tax return or business information return. If the taxpayer is not required to file an income tax return or business information return or does not file an income tax return or business information return on or before the date it would have been due, or is due, then the report and remittance under this section shall be filed on or before that due date.