58.1-4011 - Meaning of "gross receipts.". - Virginia Statutes

§ 58.1-4011. Meaning of "gross receipts.".

A. Notwithstanding the provisions of Chapter 37 of this title or § 58.1-4025of this chapter relating to local license taxes, the term "gross receipts"as used in Chapter 37 shall include only the compensation actually paid to alicensed sales agent as provided by rule or regulation adopted by the Boardconsistent with the provisions of subdivision 11 of subsection A of §58.1-4007.

B. Unless otherwise provided by contract, any person licensed as a lotteryagent who makes rental payments for the business premises on which statelottery tickets are sold on the basis of retail sales shall have that portionof rental payment based on sales of state lottery tickets or shares computedon the basis of the compensation received as a lottery agent from the StateLottery Department.

(1987, c. 531.)