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These guidelines outline the procedures for purchasers and dealers to request refunds from Virginia Tax in instances where tax has been collected and or remitted in error on exempt transactions.
Dealers are entitled to recover the amount of sales tax refunded or credited to a customer that was previously reported and remitted to Virginia Tax on their Retail Sales and Use Tax Return or their Out-of-State Dealer's Use Tax Return for the month in which the refund or credit is made.
These guidelines outline the procedures for purchasers and dealers to request refunds from the Virginia Department of Taxation (Virginia Tax) in instances where sales or use tax has been collected and/or remitted in error on exempt transactions. There are 3 methods for taxpayers to recover sales taxes remitted to us in error:
12 cze 2017 · Customer purchases an item from Dealer and pays sales tax of $50,000 on the transaction. A month later, Customer provides Dealer with a valid exemption certificate for the transaction and requests a refund of the sales tax paid. Dealer has an average monthly sales tax liability of $35,000.
The Department may reduce such refund by the amount of any taxes, penalties and interest which are due for the period covered by the amended return, or any past-due taxes, penalties and interest which have been assessed within the appropriate period of limitations.
Tax Due Returns. If you are required to file a Virginia individual tax return and have a tax due liability, payments must be received on or before May 1. If you are filing an extension with Virginia, 90% of your tax liability must be paid by the filing deadline of May 1 to avoid an extension penalty.
To what extent and under what conditions cities and counties may levy local sales taxes; collection thereof by Commonwealth and return of revenue to each city or county entitled thereto
