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February 14, 2011
General Assembly Week 4
It has been a whirlwind 3 ½ weeks packed with committee meetings and appointments with legislators lobbying on your behalf. Below is a list of issues we will be following for the remainder of the session. Accelerated Sales Tax RollbackWe mentioned last week that the Governor had recommended $37.8 million for the phase out of the onerous accelerated sales tax payment currently paid by all retailers who have annual gross taxable sales of $1 million or more. The Governor’s recommendation would eliminate 75% of Virginia’s retailers from the accelerated payment. This past week we learned that the House of Delegates placed in their budget a recommendation of $112 million to phase out the accelerated payment, where as the Senate had no dollars allocated to the phase out. The VRF lobbyists will work with budget conferees in the House and Senate to reach a dollar amount acceptable by both. The phase out was to begin in 2013, however, any portion of the phase out now will contribute to a quicker elimination of this unpopular revenue funding method. BPOLTwo BPOL Tax bills have cleared the House, were heard by the Senate last week and are now on the Senate floor for final vote. Delegate Cole’s bill would provide localities the option of using the gross receipts to compute the BPOL Tax or the Virginia Taxable income. Delegate Iaquinto’s bill would provide the localities the option of not charging a BPOL Tax for the first two years of a new business. Senator Frank Ruff’s BPOL bill gives localities the option to exempt unprofitable businesses from paying the BPOL Tax. The bill has now passed the House Finance Sub Committee and will be heard by full Finance Committee this week.ABC Corkage FeeLegislation introduced by Senator McWaters, Virginia Beach, provides that any restaurant licensed by the ABC Board may permit the consumption of lawfully acquired wine by bona fide customers on the premises in all areas and locations covered by the license. The bill provides that a licensee may charge a corkage fee to such customer for the wine so consumed; however, the licensee may not charge any other fee to such customer. The RMA surveyed its restaurant and hotel members to determine their position on this legislation. The survey results showed that over eighty percent opposed. The VRF, the lobby arm of the RMA, will oppose this legislation.Key legislation affecting retailers, followed by the VRF, that failed in its house of origin:
Below are links to the remaining legislation and all legislation that has failed.
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Copyright ©2011 Retail Merchants Association. All Rights Reserved. |
The General Assembly has reached its half way point, “crossover,” when the House and Senate must complete legislations originated with their respective bodies. 
