The Virginia General Assembly convenes Wednesday, January 13, 2016, in Richmond. Virginia Retail Federation (VRF) will be represented, as many pieces of legislation will be reviewed which may potentially impact the retail industry.
Important AST Increase
An important part of this year's legislative session, which ends March 12, 2016, is Governor McAuliffe's biennial budget proposal. As reported in our previous Advocate, the Governor's budget includes a proposed increase of the Accelerated Sales Tax (AST) to $10 million, rather than the current $2.5 million. The Governor's proposed budget also includes an additional increase to $25 million for the following year. Great news for Virginia retailers! VRF will continue to work throughout Session to make sure that the increase remains in the budget.
Don't Miss Out
There will be many important opportunities to benefit retailers in the coming Session. Stay tuned to our weekly email updates, The Advocate, for information on legislation status and how you may contact legislators to help the retail industry.