58.1-656 - Discount. - Virginia Statutes

§ 58.1-656. Discount.

For the purpose of compensating a communications services provider holding acertificate of registration under § 58.1-653 for accounting for and remittingthe tax levied by this chapter, a communications services provider shall beallowed the following percentages of the first 3% of the tax levied by §58.1-648 and accounted for in the form of a deduction in submitting hisreturn and paying the amount due by him if the amount due was not delinquentat the time of payment.

Monthly Taxable Sales Percentage
$0 to $62,500 4%
$62,501 to $208,000 3%
$208,001 and above 2% 

The discount allowed by this section shall be computed according to theschedule provided, regardless of the number of certificates of registrationheld by a communications services provider.

(2006, c. 780.)