State sales and use tax by remote sellers; collection, disposition of revenue, report. (SB1337)

Introduced By

Sen. Mark Peake (R-Lynchburg)

Progress

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

Description

Collection of state sales and use tax by remote sellers; disposition of revenue; report. Creates the Online Revenue Collection Fund for the collection of revenues generated in the event that the General Assembly adopts legislation requiring the remittance of sales and use tax by remote sellers and marketplace facilitators. Following the first full fiscal year in which the remittance of state sales and use tax by remote sellers and marketplace facilitators is required, the Commissioner of the Department of Taxation shall report on the total amount of revenues collected and shall calculate the amount by which the state sales and use tax rate could be reduced and replaced with revenues from the Fund so as to be revenue neutral. Read the Bill »

Status

01/08/2019: Awaiting a Vote in the Finance Committee

History

DateAction
01/08/2019Prefiled and ordered printed; offered 01/09/19 19101149D
01/08/2019Referred to Committee on Finance

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