Laserfiche WebLink
"Daily rental property" means all tangible personal property <br />held for rental and owned by a person engaged in the <br />short-term rental business, except trailers, as defined in <br />~46.t-1 (33) of the Code of Virginia and other tangible <br />personal property required to be licensed or registered with <br />the Department of Motor Vehicles, Department of Game and <br />Inlan~ Fisheries, or the Department of Aviation. <br /> <br /> (d) Collection, return and remittance of tax. <br /> Every person engaged in the short-term rental business <br />shall collect the rental tax from the lessee of the daily <br />rental property at the time of the rental. The lessor of the <br />daily rental property shall transmit a quarterly return to the <br />Commissioner of the Revenue, indicating the gross proceeds <br />derived from the short-term rental business and shall remit <br />therewith the payment of such tax as is due for the quarter. <br />The quarterly returns and payment of tax shall be filed with <br />the Commissioner of the Revenue on or before the twentieth day <br />of each of the months of April, July, October and January, <br />representing, respectively, the gross proceeds and taxes <br />collected during the preceding quarters ending March 31st, <br />June 30th, September 30th and December 31st. The return shall <br />be upon such forms and setting forth such information as the <br />Commissioner of the Revenue may require, showing the amount of <br />gross receipts and the tax required to be collected. The <br />taxes required to be collected under this Article shall be <br />deemed to be held in trust by the person required to collect <br />such taxes until remitted as required in this Article. <br /> <br />(e) Procedure upon failure to collect, report or remit <br /> taxes. <br /> <br /> If any person, whose duty it is to so do, shall fail or <br />refuse to collect the tax imposed under this Article and to <br />make, within the time provided in this Article, the returns <br />and remittances required in this Article, the Commissioner of <br />Revenue shall proceed in such manner as he may deem best to <br />obtain facts and information on which to base his estimate of <br />the tax due. As soon as the Commissioner of the Revenue shall <br />procure such facts and information as he ts able to obtain <br />upon which to base the assessment of any tax payable by any <br />person who has failed or refused to collect such tax and to <br />make such report and remittance, he shall proceed to determine <br />and assess against such person the tax and penalties provided <br />for by this Article and shall notify such person by Certified <br />Mail, sent to his last known place of address, of the total <br />amount of such tax and interest and penalties and the total <br />amount thereof shall be payable within ten days (10) from the <br />date of such notice. <br /> <br />(f) Penalty and interest. <br /> <br /> If any person, whose duty it is to so do, shall fail or <br />refuse to remit to the Commissioner of the Revenue the tax <br /> <br /> <br />