58.1-608.4 - Suspension of exemption. - Virginia Statutes

§ 58.1-608.4. Suspension of exemption.

Any organization or entity exempt from the tax imposed by this chapter, orimposed pursuant to the authority granted in § 58.1-605 or § 58.1-606, thatknows or should have known that an associate, employee, volunteer, otherindividual or entity has used its tax exemption certificate/letter to makeunlawful purchases in the aggregate in excess of $1,000 in any calendar year,shall have its tax exemption suspended in accordance with § 58.1-623.1.

(2002, c. 775.)