                                 CODE OF VIRGINIA

CREDIT AGAINST TAX (§ 58.1-1409)

A credit shall be granted against the tax imposed by this chapter with respect
to a person&#8217;s use in this Commonwealth of a watercraft purchased by him in
another state, or purchased by him in this Commonwealth if the state sales tax
was paid thereon. The amount of the credit shall be equal to the tax paid by him
to another state by reason of the imposition of a similar tax on his purchase or
use of the property, or the sales tax paid to this Commonwealth. The amount of
the credit shall not exceed the tax imposed by this chapter.

HISTORY: Code 1950, § 58-685.49; 1981, c. 405; 1984, c. 675.