58.1-1409 - Credit against tax. - Virginia Statutes

§ 58.1-1409. Credit against tax.

A credit shall be granted against the tax imposed by this chapter withrespect to a person's use in this Commonwealth of a watercraft purchased byhim in another state, or purchased by him in this Commonwealth if the statesales tax was paid thereon. The amount of the credit shall be equal to thetax paid by him to another state by reason of the imposition of a similar taxon his purchase or use of the property, or the sales tax paid to thisCommonwealth. The amount of the credit shall not exceed the tax imposed bythis chapter.

(Code 1950, § 58-685.49; 1981, c. 405; 1984, c. 675.)