58.1-3713.4 - Additional one percent tax on gas. - Virginia Statutes

§ 58.1-3713.4. Additional one percent tax on gas.

Notwithstanding the rate limitations established in §§ 58.1-3712 and58.1-3713, a county or city may levy an additional license tax on everyperson engaging in the business of severing gases from the earth. The licensetax shall be at a rate not to exceed one percent of the gross receipts fromthe sale of gases severed within the county or city. The provisions of §58.1-3712 as they relate to measurement of gross receipts shall be applicableto this section. The revenue received from such additional tax shall be paidinto the general fund of the county or city from where the gases are severed.However, in the Counties of Buchanan, Dickenson, Lee, Russell, Scott,Tazewell, and Wise and the City of Norton one-half of the revenues derivedfrom such tax shall be paid to the Virginia Coalfield Economic DevelopmentFund.

(1990, cc. 165, 853; 2002, c. 433.)