Virginia Code 58.1-2254: Exempt sale deduction.
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A licensed retailer of alternative fuel who has posted a bond in accordance with § 58.1-2246 may deduct from the amount of tax otherwise payable to a provider of alternative fuel the amount calculated on alternative fuel that the licensee received from the provider and resold to a governmental entity, or resold to an organization described in subdivision 2 of § 58.1-2250 for use in the operation of an aircraft, whose purchases of alternative fuel are exempt from the tax under such section if, when purchasing the fuel, the retailer notified the provider of the retailer’s intent to resell the fuel in an exempt sale.
Terms Used In Virginia Code 58.1-2254
- Alternative fuel: means a combustible gas, liquid or other energy source that can be used to generate power to operate a highway vehicle and that is neither a motor fuel nor electricity used to recharge an electric motor vehicle or a hybrid electric motor vehicle. See Virginia Code 58.1-2201
- Fuel: includes motor fuel and alternative fuel. See Virginia Code 58.1-2201
- Governmental entity: means (i) the Commonwealth or any political subdivision thereof or (ii) the United States or its departments, agencies, and instrumentalities. See Virginia Code 58.1-2201
- Licensee: means any person licensed by the Commissioner pursuant to Article 2 (§ Virginia Code 58.1-2201
- Retailer: means a person who (i) maintains storage facilities for motor fuel and (ii) sells the fuel at retail or dispenses the fuel at a retail location. See Virginia Code 58.1-2201
- Use: means the actual consumption or receipt of motor fuel by any person into a highway vehicle, aircraft, or watercraft. See Virginia Code 58.1-2201