|
BPOL
What is a BPOL Tax? Many retailers are unaware of this tax. The BPOL tax is a local tax calculated on businesses’ gross receipts, with no relevance to whether a company made a profit or lost money.
Did you know that Henrico County charges a higher rate to retailers than Chesterfield County?
Did you know that Hanover County has no BPOL tax?
Did you know that Chesterfield County exempts the first $200,000 of gross receipts and Henrico County only exempts the first $100,000 of gross receipts?
Did you know that the annual business license in Chesterfield County is $10.00 and in Henrico County the license is $30.00?
Did you know the tax was put on the books to pay for the war of 1812?
There are a number of bills that will attempt to amend this unfair tax. The VRF will monitor each bill closely, where as we prefer the outright repeal of this unfair tax, the proposed legislation does make improvements to the tax. |
|
Amazon Loophole
The Virginia Retail Federation requested legislation that was introduced by Senator Emmett Hangar that would close the loop hole that allows some internet retailers who have a physical presence in Virginia to avoid collecting the sales tax from Virginia Consumers when making purchases on the internet. The bill was a Bipartisan Measure that Levels the Playing Field on the Collection of Sales and Use Taxes from Certain Internet Retailers.
The legislation would close a loophole that is allowing some internet retailers to avoid collecting the required state sales and use tax at the point of sale, the same requirement that is placed on other internet and traditional store retailers today.
Besides making the law consistent and fair for all merchants, the legislation would remove the onerous responsibility from the consumer to remember to pay the required sales tax on all internet purchases at the end of each year.
Most internet retailers are in compliance with state law, and this legislation is directed at those few who are benefiting from a small loophole that costs Virginia millions in lost revenue.
|
Civil Demand Statute
Virginia Retail Federation supports efforts to strengthen both prosecution of as well as the penalties for shoplifting and internal theft. The VRF supports the right of retailers to prosecute shoplifters and those who commit internal theft concurrently under the criminal and civil codes, (currently Virginia Statutes allow either a criminal prosecution or a civil demand). The VRF also supports holding liable parents and legal guardians of minor who commit shoplifting or employee theft. |
Dealer Discount
The amended language in the budget would eliminate the dealer discount only for retailers who already are required to remit payment electronically and allow smaller retailers to retain an amount equal to 40 percent of the current discount. The removal of the discount on only those who file electronically would eliminate payments to less than 2 percent of the retailers in the Commonwealth, with the remaining retailers retaining some compensation.
Retailers that have an average tax liability of $20,000 or more monthly are required to remit payment electronically. If your tax liability is under $20,000 monthly you retain 40% of the Dealer Discount, or stated another way, for those retailers who do not exceed an average of $400,000 monthly in taxable sales (or $4.8 million dollars annually in taxable sales) retain 40% of the Dealer Discount. |
|
|
|
|
|
