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The Virginia Retail Sales and Use Tax Act provides that the Virginia sales and use tax shall not apply to the kinds and classes of tangible personal property shown in Items 1 through 11 below when purchased for the purposes specified.
Virginia law allows businesses to purchase things without paying sales tax if they or their purchase meet certain criteria. A common exemption is “purchase for resale,” where you buy something with the intent of selling it to someone else.
Sales Tax Exemption for the Virginia Department of the Blind and Vision Impaired • Exemption for tangible personal property used or consumed by the Virginia
The tax code recognizes the importance of home ownership by allowing you to exclude gain when you sell your main home. To qualify for the maximum exclusion of gain ($250,000 or $500,000 if married filing jointly), you must meet the Eligibility Test , explained later.
As a business owner selling taxable goods or services, you act as an agent of the commonwealth of Virginia by collecting tax from purchasers and passing it along to the appropriate tax authority. Sales and use tax in Virginia is administered by the Virginia Department of Taxation (Virginia Tax).
16 kwi 2024 · In general, to qualify for the Section 121 exclusion, you must meet both the ownership test and the use test. You're eligible for the exclusion if you have owned and used your home as your main home for a period aggregating at least two years out of the five years prior to its date of sale.
The Virginia Retail Sales and Use Tax Act provides that the Virginia sales and use tax shall not apply to the kinds and classes of tangible personal property shown in Items 1 through 11 below when purchased for the purposes specified.
