SB 697 VA

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Introduced

Sales and use tax; dealer discount. Provides that the state retail sales and use tax dealer discount percentages allowed from the first three percent of such tax imposed shall be (i) eight percent for monthly taxable sales between $0 and $30,000; (ii) four percent for monthly taxable sales between $30,001 and $62,500; (iii) 1.2 percent for monthly taxable sales between $62,501 and $208,000; and (iv) 0.8 percent for monthly taxable sales of $208,001 and above. Under current statutory law, such dealer discount percentages are (a) four percent for monthly taxable sales between $0 and $62,500; (b) three percent for monthly taxable sales between $62,501 and $208,000; and (c) two percent for monthly taxable sales of $208,001 and above. However, superseding budgetary provisions (1) limit such dealer discount percentages to (A) 1.6 percent for monthly taxable sales between $0 and $62,500; (B) 1.2 percent for monthly taxable sales between $62,501 to $208,000; and (C) 0.8 percent for monthly taxable sales of $208,001 and above and (2) suspend the discount entirely for dealers subject to the electronic funds transfer requirement in relevant law.

• Tammy Brankley Mulchi Republican · primary

1. Jan 14, 2026 Prefiled and ordered printed; Offered 01-14-2026 26100518D · upper
2. Jan 14, 2026 Referred to Committee on Finance and Appropriations · upper
3. Jan 26, 2026 Fiscal Impact statement From TAX (1/26/2026 11:29 pm) · upper
4. Jan 28, 2026 Passed by indefinitely in Finance and Appropriations (10-Y 4-N) · upper

The published texts of this bill as it moves through the legislature. Each links to the official document on the state legislature site. Data from OpenStates.

• Introduced · PDF
• Introduced · HTML