§ 58.1-1500. Title

This chapter shall be known and may be cited as the “Virginia Aircraft Sales and Use Tax Act.” Code 1950, § 58-685.27; 1974, c. 431; 1984, c. 675.

§ 58.1-1501. Definitions

As used in this chapter, unless the context clearly shows otherwise, the term or phrase: “Aircraft” means any contrivance used or designed for untethered navigation or flight in the air by one or more persons at an altitude greater than twenty-four inches above the ground. Such term shall not include parachutes. “Dealer” means any person […]

§ 58.1-1502. Tax levied

There is hereby levied and imposed, in addition to all other taxes and fees of every kind now imposed by law, a tax upon the retail sale of every aircraft sold in the Commonwealth and upon the use in the Commonwealth of any aircraft required to be licensed by the Department of Aviation pursuant to […]

§ 58.1-1503. Basis of tax; estimate of tax; penalty for misrepresentation

A. The Tax Commissioner shall levy and collect the tax for the use or sale of an aircraft pursuant to subdivisions 1 and 2 of § 58.1-1502 upon the basis of the sale price of such aircraft. Any person who sells an aircraft in the Commonwealth shall supply the buyer with an invoice, signed by […]

§ 58.1-1504. Credit against tax

A credit shall be granted against the tax imposed by this chapter with respect to a person’s use in this Commonwealth of an aircraft purchased by him in another state, or assembled by him from component parts on which Virginia retail sales or use tax was paid. The amount of the credit shall be equal […]

§ 58.1-1505. Exemptions

A. Any aircraft sold to or used by (i) the United States or any of the governmental agencies thereof, (ii) the Commonwealth of Virginia or any political subdivision thereof, (iii) any air carrier operating in intrastate, interstate or foreign commerce providing scheduled air service as defined in § 58.1-1501, (iv) any nonprofit charitable organization that […]

§ 58.1-1506. Time for payment of tax

A. Except as provided in subsection B, the tax on the sale or use of an aircraft required to be licensed by this Commonwealth shall be paid by the purchaser or user of such aircraft and collected by the Commissioner prior to the time the owner applies to the Department of Aviation for, and obtains, […]

§ 58.1-1507. Election by commercial dealer; revocation; eligibility

Any person holding a commercial dealer’s license issued by the Department of Aviation who desires to be subject to the tax imposed by subdivision 3 of § 58.1-1502 shall notify the Commissioner in writing of such election. The election may be made at or before the time for filing a return as required by § […]

§ 58.1-1508. Retention of documents; examination by Commissioner

Any person who sells, leases or charters an aircraft in this Commonwealth shall retain a copy of the invoice and other financial data pertaining to the transaction required by § 58.1-1503 for three years following such transaction. Each invoice shall give an accurate description of the aircraft sold, leased or used. Code 1950, § 58-685.36; […]

§ 58.1-1509. Disposition of funds

All funds collected hereunder by the Commissioner shall be forthwith paid into the state treasury. The revenue so derived, after deducting refunds, is hereby credited to the special fund created pursuant to the provisions of § 5.1-51. Code 1950, § 58-685.38; 1974, c. 431; 1984, c. 675.

§ 58.1-1510. Civil penalties

When any person fails to make any return or pay the full amount of tax required by § 58.1-1502 within thirty days of the required filing and payment date, there shall be imposed, in addition to other penalties provided herein, a penalty to be added to the tax, in the amount of six percent of […]