- Virginia offers a one-time safe harbor for contractors for sales and use tax remittance
- Contractors can use erroneously collected retail sales tax payments to offset a use tax assessment
- To qualify, contractors must show that the property for which tax was collected is subject to a use tax assessment
- After receiving relief, contractors must pay sales tax to vendors or remit use tax directly to the Department
- This policy aims to help contractors rectify tax errors and ensure compliance with regulations
Source: taxconnections.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
