Election by commercial dealer, revocation, eligibility

# A.

Generally. A dealer must make application to the Department of Taxation and receive approval prior to operation of the aircraft.

# B.

Dealer electing to be subject to dealer exclusion; revocation.

# 1.

Any dealer who elects the dealer exclusion must apply to the Department of Taxation, on forms provided upon request, prior to the operation of any aircraft under the dealer exclusion provisions for Virginia aircraft sales and use tax. Upon receipt of the dealer's application for dealer exclusion, the Department of Taxation will notify the dealer of its action.

# 2.

The dealer who receives approval from the Department of Taxation, can revoke such election only by permission of the Tax Commissioner.

# 3.

Any person who revokes an election made under the dealer exclusion provision will be ineligible to elect dealer exclusion for two years following the revocation.

# 4.

Any person who revokes his election immediately becomes liable for the Virginia aircraft sales and use tax levied on aircraft sold.

Last amended: Historical Notes Derived from VR630-11-1507, eff. January 1, 1985, with retroactive effect according to § 58.1-203 of the Code of Virginia.

Source: view the official text

Nearby sections (25 sections)

Full table of contents →