A. No locality shall assess omitted taxes against any motor vehicle dealer which calculated its gross receipts for license tax purposes by excluding the value of any vehicle accepted as a trade-in for periods of time prior to January 1, 1991, unless such locality enforced the requirement that motor vehicle dealers include the amount of a trade-in vehicle in gross receipts for periods prior to January 1, 1990.
B. Whenever a motor vehicle dealer accepts a trade-in as part of a sale of a motor vehicle, the dealer's gross receipts for license tax purposes shall not include the amount of the trade-in.
1990, c. 670.
Structure Code of Virginia
§ 58.1-3701. Department to promulgate guidelines
§ 58.1-3702. Authority of counties, cities and towns
§ 58.1-3703.1. Uniform ordinance provisions
§ 58.1-3703.2. Acceptable identification for business licenses
§ 58.1-3704. License tax on merchants in lieu of merchants' capital tax
§ 58.1-3705. License tax shall be uniform
§ 58.1-3706. Limitation on rate of license taxes
§ 58.1-3708. Situs for local license taxation of businesses, professions, occupations, etc.
§ 58.1-3709. Business located in more than one jurisdiction
§ 58.1-3710. Proration of license taxes
§ 58.1-3711. Limitation on county license tax within boundary of a town
§ 58.1-3712. Counties and cities authorized to levy severance tax on gases
§ 58.1-3713. Local gas road improvement and Virginia Coalfield Economic Development Authority tax
§ 58.1-3713.4. Additional one percent tax on gas
§ 58.1-3715. License requirements for contractors
§ 58.1-3715.1. License requirements for mobile food units
§ 58.1-3716. Wholesale merchants
§ 58.1-3717. Peddlers; itinerant merchants
§ 58.1-3718. Counties, cities and towns authorized to levy a license tax on peddlers at wholesale
§ 58.1-3719.1. Direct sellers; rate limitation
§ 58.1-3720. Amusement machines; gross receipts tax on amusement operators
§ 58.1-3721. License exemptions for coin machine operators
§ 58.1-3722. Stickers to evidence payment of tax
§ 58.1-3726. Fortune-tellers, clairvoyants and practitioners of palmistry
§ 58.1-3728. Carnivals, circuses, speedways; penalties; certain restrictions
§ 58.1-3729. Permanent coliseums, arenas or auditoriums; limitations
§ 58.1-3730. Savings institutions and credit unions; limitations
§ 58.1-3730.1. Industrial loan associations and agricultural credit associations; limitations
§ 58.1-3731. Certain public service corporations; rate limitation
§ 58.1-3732. Exclusions and deductions from "gross receipts."
§ 58.1-3732.1. Limitation on gross receipts; pari-mutuel wagering
§ 58.1-3732.2. Limitation on gross receipts
§ 58.1-3732.3. Limitation on gross receipts of providers of funeral services
§ 58.1-3732.4. Limitation on gross receipts; staffing firms
§ 58.1-3732.5. Limitation on gross receipts of security brokers and dealers
§ 58.1-3733. License tax on commission merchants
§ 58.1-3734. License tax on motor vehicle dealers
§ 58.1-3734.1. Sales involving trade-ins
§ 58.1-3735. Departments of license inspection in certain counties