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Returns: companies which cannot reasonably estimate the amount of future returns and/or have extremely high rates of returns should recognize revenues only when the right to return expires. Those companies that can estimate the number of future returns and have a relatively small return rate can recognize revenues at the point of sale, but must ...
Commissioners also assist taxpayers in completing state tax returns and filing forms. The Virginia General Assembly grants the Commissioner of the Revenue the power to summons taxpayers, to issue statutory assessments, to audit taxpayer returns, and, if necessary, to file civil and criminal proceedings against taxpayers for failure to file ...
[6] [7] [8] The mission of the agency is to "serve the public by acting ethically and efficiently in our administration of Virginia’s tax laws." [ 1 ] The agency is currently led by Craig M. Burns, who has served as Tax Commissioner since November 2010 [ 9 ] [ 10 ]
[98] [99] [100] However, two states enacted a form of VAT in lieu of a business income tax. Michigan used a form of VAT known as the "Single Business Tax" (SBT) from 1975 until voter-initiated legislation repealed it, replaced by the Michigan Business Tax in 2008. [101] Hawaii has a 4% General Excise Tax (GET) that is charged on gross business ...
However, unlike Maryland and West Virginia consumer use tax forms, the Virginia CU-7 Consumer Use Tax Form does not recognize that it is possible to be under-taxed in another state and so only addresses untaxed items. Unlike Maryland's quarterly filing, Virginia's CU-7 is due annually between January 1 and May 1 or can be filed optionally ...
Download final results; What to Watch. The Old Dominion’s 13 electoral votes are among the most coveted electoral prizes for both presidential campaigns. It is also a battleground at the Senate level, where former Gov. Tim Kaine (D) is facing former Sen. George Allen (R); and the 2nd district House race is also worth keeping an eye on.
SR-22 forms are not car insurance. Rather, an SR-22 form is a special certificate filed with your state’s Department of Motor Vehicles (DMV) that signifies you hold the minimum auto insurance ...
The deadline for filing returns varies by state and type of return, but for individuals in many states is the same as the federal deadline, typically April 15. Every state, including those with no income tax, has a state taxing authority with power to examine (audit) and adjust returns filed with it. Most tax authorities have appeals procedures ...