Bill Text: VA SB1 | 2016 | Regular Session | Chaptered

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Bill Title: Excise tax on peanuts.

Sponsorship: Bipartisan Bill

Status: (Passed) 2016-02-23 - Governor: Acts of Assembly Chapter text (CHAP0005) [SB1 Detail]

Download: Virginia-2016-SB1-Chaptered.html

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CHAPTER 5 An Act to amend and reenact §3.2-1905 of the Code of Virginia, relating to the excise tax on peanuts. [S 1] Approved February 23, 2016

 

Be it enacted by the General Assembly of Virginia:

1. That §3.2-1905 of the Code of Virginia is amended and reenacted as follows:

§3.2-1905. Levy of excise tax.

An excise tax of 15 cents ($0.15) per 100 pounds is levied on all peanuts grown in and sold in the Commonwealth for processing. Beginning July 1, 2010, and ending July 1, 2016 2021, such an excise tax shall be levied at a rate of $0.30 per 100 pounds on all peanuts grown in and sold in the Commonwealth for processing. Peanuts shall not be subject to the tax after the tax has been paid once.