Source: https://www.richmondsunlight.com/bill/2010/sb237/fulltext/
Timestamp: 2020-03-28 08:24:24
Document Index: 770895666

Matched Legal Cases: ['§ 4', '§ 4', '§ 4', '§ 4', '§ 4', '§ 4', '§ 4', '§ 3']

Richmond Sunlight » SB237: Alcoholic beverages; portion of wine liter tax collected to be deposited in Wine Promotion Fund.
SB237: Alcoholic beverages; portion of wine liter tax collected to be deposited in Wine Promotion Fund.
CHAP0247
SB237ER
SENATE BILL NO. 237 Offered January 13, 2010 Prefiled January 12, 2010 A BILL to amend and reenact § 4.1-235 of the Code of Virginia, relating to alcoholic beverage control; wine liter tax.
A. The Board shall collect the state taxes levied pursuant to § 4.1-234 as follows:
2. In establishing the prices for items sold by it to persons other than wholesale licensees, the Board shall include a reasonable markup. The liter tax or twenty 20 percent tax, as appropriate, shall then be added to the price of each container of alcoholic beverages. The four percent tax on vermouth and farm winery wines shall then be added for those products. In all cases the final price for each container may be established so as to be a multiple of five.
In accounting for the state tax on sales the Board shall divide the net sales for the quarter by 1.20 and multiply the result by twenty 20 percent. As to the sale of vermouth and farm winery wine, the Board shall divide the net sales for the quarter by 1.04 and multiply the result by four percent.
B. The amount of tax collected under this section during each quarter shall, within fifty 50 days after the close of such quarter, be certified to the Comptroller by the Board and shall be transferred by him from the special fund described in § 4.1-116 to the general fund of the state treasury. The Board shall, not later than June 20 of every year, estimate the yield of the state tax on sales imposed by § 4.1-234 for the quarter ending June 30 and certify the amount of such estimate to the Comptroller, whereupon the Comptroller shall, before the end of the month, transfer the amount of such estimate from the special fund described in § 4.1-116 to the general fund of the state treasury, subject to such adjustment on account of an overestimate or underestimate as may be indicated within fifty 50 days after the close of the quarter ending on June 30.
Forty-four percent of the amount derived from the liter tax levied pursuant to § 4.1-234 shall be transferred to the general fund and paid to the several counties, cities, and towns of the Commonwealth in proportion to their respective populations, and is appropriated for such purpose.
The portion of wine liter tax collected pursuant to § 4.1-234 that is attributable to the sale of wine produced by a farm winery shall be deposited in the Virginia Wine Promotion Fund established pursuant to § 3.2-3005.
For a plain English description of this bill, comments, voting, tagging, etc., return to the main page for SB237.