Tax Type
Tobacco
Description
Tobacco Products Tax Dealers Discount
Topic
Tobacco Products
Date Issued
06-08-2011
TAX BULLETIN 11-6
Virginia Department of Taxation
June 8, 2011
IMPORTANT INFORMATION REGARDING THE
TOBACCO PRODUCTS TAX DEALER DISCOUNT
UPDATE OF TAX BULLETIN 10-5
Effective beginning with the June, 2011 return due July 20, 2011, legislation enacted in the 2011 Session of the General Assembly, House Bill 1500 (Acts of Assembly 2011, Chapter 890), reinstates the two percent dealer discount allowed for accounting for and remitting the Tobacco Products Tax. The Tobacco Products Tax is remitted monthly by each distributor to TAX when the distributor files his Form TT- 8, Virginia Tobacco Products Tax Return.
House Bill 29 and House Bill 30 (2010 Acts of Assembly, Chapters 872 and 874), reduced or suspended the dealer discounts allowed to some dealers for collecting and remitting certain taxes beginning with the June, 2010 return due July 20, 2010. More information regarding the reduction and suspension of the dealer discounts by the 2010 legislation may be found in Virginia Tax Bulletin 10-5, which can be found in the Policy Library on TAX's website, www.tax.virginia.gov.
For additional information, please visit TAX's website, www.tax.virginia.gov. If you have any questions regarding this Tax Bulletin, you may also contact TAX at (804) 367-8037 or through the "Live Chat" service on TAX's website, www.tax.virginia.gov.
Related Documents
Rulings of the Tax Commissioner