Virginia § 58.1-622 - Discount
Full text of Virginia Code of Virginia § 58.1-622 — Discount, with citation guidance and answers to common questions.
§ 58.1-622. Discount
For the purpose of compensating a dealer holding a certificate of registration under § 58.1-613 for accounting for and remitting the tax levied by this chapter, such dealer shall be allowed the following percentages of the first three percent of the tax levied by §§ 58.1-603 and 58.1-604 and accounted for in the form of a deduction in submitting his return and paying the amount due by him if the amount due was not delinquent at the time of payment.
| a | Monthly Taxable Sales | Percentage |
| b | $0 to $62,500 | 4% |
| c | $62,501 to $208,000 | 3% |
| d | $208,001 and above | 2% |
The discount allowed by this section shall be computed according to the schedule provided, regardless of the number of certificates of registration held by a dealer.
Code 1950, § 58.441.25; 1966, c. 151; 1984, c. 675; 1986, Sp. Sess., c. 12; 1989, c. 469; 2008, c. 488.
Frequently Asked Questions About Virginia § 58.1-622
What does Code of Virginia § 58.1-622 cover?
Section 58.1-622 ("Discount") is part of the Code of Virginia, the codified statutory law of Virginia. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Virginia § 58.1-622?
A common citation format is "Code of Virginia § 58.1-622" (Virginia). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Virginia law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Virginia official source linked on this page or consult a licensed Virginia attorney.
How does Virginia § 58.1-622 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Virginia can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Virginia.