Code of Virginia (Title 58.1 — Taxation)
Va. Code § 58.1-2233
Deductions; percentage discount
# A.
A licensed importer who removes motor fuel from a terminal rack of a permissive or an elective supplier or licensed distributor may deduct from the amount of tax otherwise payable to a supplier the amount calculated on motor fuel that the licensee received from the supplier and resold to a governmental entity, or resold to an organization described in subdivision 2 of § 58.1-2226 for use in the operation of an aircraft if, when removing the fuel, the licensee used an exempt access card or exempt access code specified by the supplier to notify the supplier of the licensee's intent to resell the fuel in an exempt sale.
# B.
A licensed importer who removes motor fuel from a terminal rack of a permissive supplier, an elective supplier, or a licensed distributor may deduct from the amount of tax otherwise payable to a supplier the amount calculated on aviation jet fuel that the licensee received from the supplier and resold to a licensed aviation consumer if, when removing the fuel, the licensee used an exempt access card or exempt access code specified by the supplier to notify the supplier of the licensee's intent to resell the aviation jet fuel to a licensed aviation consumer.
# C.
A licensed distributor who pays the tax due a supplier by the date the supplier is required to remit the tax to this Commonwealth may deduct from the amount due a discount of one percent of the amount of tax payable. A licensed importer who (i) removes motor fuel from a terminal rack of a permissive or an elective supplier and (ii) pays the tax due to the supplier by the date the supplier is required to remit the tax to the Commonwealth may deduct from the amount due a discount of one percent of the amount of tax payable. A supplier shall not directly or indirectly deny this discount to a licensed distributor or licensed importer who pays the tax due the supplier by the date the supplier is required to remit the tax to the Commonwealth.
Source: view the official text
Nearby sections (25 sections)
- 58.1-2221 · Repealed
- 58.1-2222 · Liability for tax on blended fuel
- 58.1-2223 · Liability for tax on fuel transferred within terminal…
- 58.1-2224 · Tax on unaccounted for motor fuel losses; liability
- 58.1-2225 · Backup tax; liability
- 58.1-2226 · Exemptions from tax
- 58.1-2227 · Sales of aviation jet fuel to licensed aviation consumers
- 58.1-2228 · Exempt access cards; exempt access codes
- 58.1-2229 · Removals by out-of-state bulk user
- 58.1-2230 · When tax return and payment are due
- 58.1-2231 · Remittance of tax to supplier
- 58.1-2232 · Notice of cancellation or reissuance of licenses; effect of…
- 58.1-2233 · Deductions; percentage discount
- 58.1-2234 · Monthly reconciling returns
- 58.1-2235 · Information required on return filed by supplier
- 58.1-2236 · Deductions and discounts allowed a supplier when filing a…
- 58.1-2237 · Duties of supplier as trustee
- 58.1-2238 · Returns and discounts of importers
- 58.1-2239 · Returns and discounts of aviation consumers
- 58.1-2240 · Informational returns of terminal operators
- 58.1-2241 · Informational returns of motor fuel transporters
- 58.1-2242 · Return of distributors and certain other licensees; exports
- 58.1-2243 · Use of name and account number on return
- 58.1-2244 · Persons required to be licensed
- 58.1-2245 · License application procedure