58.1-2256 - Deductions and discounts for providers of alternative fuel filing returns. - Virginia Statutes

§ 58.1-2256. Deductions and discounts for providers of alternative fuelfiling returns.

A. When a provider of alternative fuel files a return, the provider ofalternative fuel may deduct from the amount of tax payable with the returnthe amount of tax any of the following licensees owes the provider ofalternative fuel but failed to remit to the provider of alternative fuel:

1. A licensed bulk user of alternative fuel who has posted a bond inaccordance with § 58.1-2246; and

2. A licensed retailer of alternative fuel who has posted a bond inaccordance with § 58.1-2246.

A provider of alternative fuel shall not be liable for tax that such alicensee owes the provider of alternative fuel but fails to pay. If suchlicensee pays the tax owed to a provider of alternative fuel after theprovider of alternative fuel deducts the amount of such tax on a return, theprovider of alternative fuel shall remit the payment to the Commissioner withthe next monthly return filed subsequent to receipt of the tax.

B. A provider of alternative fuel who timely files a return with the paymentdue may deduct, from the amount of tax payable with the return, anadministrative discount of one-tenth of one percent of the amount of taxpayable to this Commonwealth, not to exceed a total of $5,000 per month. Theadministrative discount allowed a provider of alternative fuel who is alsolicensed as a supplier under Article 2 (§ 58.1-2204 et seq.) of this chaptershall not exceed $5,000 per month for both licenses.

(2000, cc. 729, 758.)