Bulletin Number
VTB 83-7
Tax Type
Peanut Excise Tax
Description
Peanut Excise Tax; Rate Increase
Topic
Basis of Tax
Rate of Tax
Date Issued
05-20-1983
Virginia Department of Taxation
83-7
DATE: May 20, 1983 SUBJECT: Peanut Excise Tax Rate Increase
House Bill 2189 Chapter 177 of the 1983 Acts of Assembly, amended § 3.1-657, Code of Virginia, providing a two step increase in the excise tax on peanuts grown and sold in Virginia for processing. The current rate of five (5) cents per 100 pounds increases to 7.5 cents per 100 pounds beginning July 19 1983.
The second step increases the excise tax rate on peanuts grown and sold in Virginia from 7.5 cents to 10 cents per 100 pounds beginning July 19 1984. The effective date of the bill is July 1, 1983.
Tax Bulletins