CODE OF VIRGINIA

MONTHLY RETURN AND PAYMENTS OF TAX (§ 58.1-1021.03)

A. Every distributor subject to the tax imposed under this article shall file a
monthly return no later than the twentieth of each month on a form prescribed by
the Department, covering the purchase of tobacco products by such distributor
during the preceding month, for which tax is imposed pursuant to subsection A of
§ 58.1-1021.02, during the preceding month. Each return shall show the quantity
and manufacturer’s sales price of each tobacco product (i) brought, or
caused to be brought, into the Commonwealth for sale; and (ii) made,
manufactured, or fabricated in the Commonwealth for sale in the Commonwealth
during the preceding calendar month. Every licensed distributor outside the
Commonwealth shall in a like manner file a return showing the quantity and
manufacturer’s sales price of each tobacco product shipped or transported
to retailers in the Commonwealth to be sold by those retailers, during the
preceding calendar month. The return shall be made on forms furnished or
prescribed by the Department and shall contain or be accompanied by such further
information as the Department shall require. The distributor, at the time of
filing the return, shall pay to the Department the tax imposed under subsection
A of § 58.1-1021.02 for each such package of tobacco product purchased in the
preceding month on which tax is due.

B. For the purpose of compensating dealers for accounting for the tax imposed
under this article, a retail dealer or wholesale dealer shall be allowed when
filing a monthly return and paying the tax to deduct two percent of the tax
otherwise due if the amount due was not delinquent at the time of payment.The
Tax Commissioner shall prepare for each fiscal year an estimate of the total
amount of all discounts allowed to retail or wholesale dealers pursuant to this
subsection and such amount shall be taken into consideration in preparing the
official estimate of the total revenues to be collected during the fiscal year
by the Virginia Health Care Fund established under § 32.1-366. Any reduction in
funding available for programs financed by the Virginia Health Care Fund as a
result of such discounts shall be made up by the general fund.

HISTORY: 2004, Sp. Sess. I, c. 3; 2005, cc. 71, 925; 2010, cc. 191, 804.