Virginia Code 58.1-1617: Records to be kept
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It shall be the duty of every manufacturer and severer to keep and preserve records and other such books or accounts as may be necessary to determine the amount of tax for which it is liable, under the provisions of this chapter. Such records shall be organized so that the forest products handled are grouped into classifications that conform to the various tax rates levied by this chapter. Such records and books shall be kept and preserved for a period of three years and shall be open for examination at any time by the Department or its duly authorized agents.
Terms Used In Virginia Code 58.1-1617
- Department: means the Department of Taxation. See Virginia Code 58.1-1
- Manufacturer: means any person that for commercial purposes at a fixed place of business (i) processes forest products into various sizes and forms, including chips; (ii) processes forest products into other products; (iii) uses or consumes forest products; or (iv) stores forest products for sale or shipment out of state. See Virginia Code 58.1-1601
- Severer: means any person in this Commonwealth that fells, cuts, or otherwise separates timber or any other such forest product from the soil. See Virginia Code 58.1-1601
Code 1950, § 58-838.10; 1970, c. 770; 1984, c. 675; 2015, c. 170.