{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/58.1-1740.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/58.1-1740.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/58.1-1740.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/58.1-1740.html"}],"law_id":60964,"edition_id":1,"section_id":60964,"structure_id":13583,"section_number":"58.1-1740","catch_line":"Credits against tax","history":"2011, cc. 405, 639.","full_text":"Credit shall be granted any rentor subject to the additional tax on the rental of a daily rental passenger car for a portion of the tangible personal property tax assessed by a Virginia locality on such car for a tax year ending after June 30, 1981. The amount of such credit shall be equal to the ratio of the number of months in such tax year after June 30 to the total number of months in the tax year. Any such credit may be carried over from month to month for a period of up to six months or until fully absorbed, whichever occurs first. To the extent any credit is claimed hereunder as to any tangible personal property tax properly assessed and not actually paid when due, such credit shall be subject to collection as an underpayment of the additional tax imposed under subdivision A 2 of \u00a7 58.1-1736 as of the date the credit was claimed, with penalties and interest as provided in \u00a7 58.1-2411, mutatis mutandis.","order_by":null,"text":{"0":{"id":222939,"text":"Credit shall be granted any rentor subject to the additional tax on the rental of a daily rental passenger car for a portion of the tangible personal property tax assessed by a Virginia locality on such car for a tax year ending after June 30, 1981. The amount of such credit shall be equal to the ratio of the number of months in such tax year after June 30 to the total number of months in the tax year. Any such credit may be carried over from month to month for a period of up to six months or until fully absorbed, whichever occurs first. To the extent any credit is claimed hereunder as to any tangible personal property tax properly assessed and not actually paid when due, such credit shall be subject to collection as an underpayment of the additional tax imposed under subdivision A 2 of \u00a7 58.1-1736 as of the date the credit was claimed, with penalties and interest as provided in \u00a7 58.1-2411, mutatis mutandis.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"ancestry":[{"id":13583,"edition_id":1,"name":"Virginia Motor Vehicle Rental and Peer-to-Peer Vehicle Sharing Tax","identifier":"9","label":"article","depth":4,"order_by":1,"parent_id":13162,"metadata":{},"date_created":"2026-06-26 03:45:19","date_modified":"2026-06-26 03:45:19","permalink":{"id":252923,"object_type":"structure","relational_id":13583,"identifier":"9","token":"58.1\/I\/17\/9","url":"\/58.1\/I\/17\/9\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13162,"edition_id":1,"name":"Miscellaneous Taxes","identifier":"17","label":"chapter","depth":3,"order_by":1,"parent_id":12837,"metadata":{},"date_created":"2026-06-26 03:44:22","date_modified":"2026-06-26 03:44:22","permalink":{"id":252713,"object_type":"structure","relational_id":13162,"identifier":"17","token":"58.1\/I\/17","url":"\/58.1\/I\/17\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12837,"edition_id":1,"name":"Taxes Administered by the Department of Taxation","identifier":"I","label":"subtitle","depth":2,"order_by":1,"parent_id":12703,"metadata":{},"date_created":"2026-06-26 03:43:55","date_modified":"2026-06-26 03:43:55","permalink":{"id":252075,"object_type":"structure","relational_id":12837,"identifier":"I","token":"58.1\/I","url":"\/58.1\/I\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12703,"edition_id":1,"name":"Taxation","identifier":"58.1","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:49","date_modified":"2026-06-26 03:43:49","permalink":{"id":251959,"object_type":"structure","relational_id":12703,"identifier":"58.1","token":"58.1","url":"\/58.1\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":65522,"structure_id":13583,"section_number":"58.1-1734","catch_line":"Title","url":"\/58.1-1734\/","token":"58.1\/I\/17\/9\/58.1-1734","metadata":false},{"id":54551,"structure_id":13583,"section_number":"58.1-1735","catch_line":"Definitions","url":"\/58.1-1735\/","token":"58.1\/I\/17\/9\/58.1-1735","metadata":false},{"id":63342,"structure_id":13583,"section_number":"58.1-1736","catch_line":"Levy","url":"\/58.1-1736\/","token":"58.1\/I\/17\/9\/58.1-1736","metadata":false},{"id":64101,"structure_id":13583,"section_number":"58.1-1737","catch_line":"Exemptions","url":"\/58.1-1737\/","token":"58.1\/I\/17\/9\/58.1-1737","metadata":false},{"id":54701,"structure_id":13583,"section_number":"58.1-1738","catch_line":"Administration of the tax","url":"\/58.1-1738\/","token":"58.1\/I\/17\/9\/58.1-1738","metadata":false},{"id":68857,"structure_id":13583,"section_number":"58.1-1739","catch_line":"Forwarding of tax information to law-enforcement officials","url":"\/58.1-1739\/","token":"58.1\/I\/17\/9\/58.1-1739","metadata":false},{"id":60964,"structure_id":13583,"section_number":"58.1-1740","catch_line":"Credits against tax","url":"\/58.1-1740\/","token":"58.1\/I\/17\/9\/58.1-1740","metadata":false},{"id":78213,"structure_id":13583,"section_number":"58.1-1741","catch_line":"Disposition of revenues","url":"\/58.1-1741\/","token":"58.1\/I\/17\/9\/58.1-1741","metadata":false}],"previous_section":{"id":68857,"structure_id":13583,"section_number":"58.1-1739","catch_line":"Forwarding of tax information to law-enforcement officials","url":"\/58.1-1739\/","token":"58.1\/I\/17\/9\/58.1-1739","metadata":false},"next_section":{"id":78213,"structure_id":13583,"section_number":"58.1-1741","catch_line":"Disposition of revenues","url":"\/58.1-1741\/","token":"58.1\/I\/17\/9\/58.1-1741","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/58.1-1740\/","history_text":"

This law was first created in 2011. The record of its establishment is cataloged in chapters 405<\/a> and 639<\/a> of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year.<\/p>","references":false,"refers_to":[{"id":63342,"section_number":"58.1-1736","catch_line":"Levy","order_by":null,"url":"\/58.1-1736\/"},{"id":64523,"section_number":"58.1-2411","catch_line":"Civil penalties upon failure to pay tax, etc","order_by":null,"url":"\/58.1-2411\/"}],"permalink":{"id":252949,"object_type":"law","relational_id":60964,"identifier":"58.1-1740","token":"58.1\/I\/17\/9\/58.1-1740","url":"\/58.1-1740\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/58.1-1740\/","token":"58.1\/I\/17\/9\/58.1-1740","dublin_core":{"Title":"Credits against tax","Type":"Text","Format":"text\/html","Identifier":"\u00a7 58.1-1740","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

Credit shall be granted any rentor subject to the additional tax on the rental of a daily rental passenger car for a portion of the tangible personal property tax assessed by a Virginia locality on such car for a tax year ending after June 30, 1981. The amount of such credit shall be equal to the ratio of the number of months in such tax year after June 30 to the total number of months in the tax year. Any such credit may be carried over from month to month for a period of up to six months or until fully absorbed, whichever occurs first. To the extent any credit is claimed hereunder as to any tangible personal property tax properly assessed and not actually paid when due, such credit shall be subject to collection as an underpayment of the additional tax imposed under subdivision A 2 of \u00a7 58.1-1736<\/a> as of the date the credit was claimed, with penalties and interest as provided in \u00a7 58.1-2411<\/a>, mutatis mutandis<\/span>.<\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nCREDITS AGAINST TAX (\u00a7 58.1-1740)\n\nCredit shall be granted any rentor subject to the additional tax on the rental\nof a daily rental passenger car for a portion of the tangible personal property\ntax assessed by a Virginia locality on such car for a tax year ending after June\n30, 1981. The amount of such credit shall be equal to the ratio of the number of\nmonths in such tax year after June 30 to the total number of months in the tax\nyear. Any such credit may be carried over from month to month for a period of up\nto six months or until fully absorbed, whichever occurs first. To the extent any\ncredit is claimed hereunder as to any tangible personal property tax properly\nassessed and not actually paid when due, such credit shall be subject to\ncollection as an underpayment of the additional tax imposed under subdivision A\n2 of \u00a7 58.1-1736 as of the date the credit was claimed, with penalties and\ninterest as provided in \u00a7 58.1-2411, mutatis mutandis.\n\nHISTORY: 2011, cc. 405, 639.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}