Department of Taxation
Department of Taxation
Meeting:
Meeting of Interested Parties Regarding Senate Bill 1332 (2005) Incentive Payments for Small Tobacco Product Manufacturers for Purchases of Domestic Tobacco
| Meeting Details | |
|---|---|
| Date / Time | 11/4/2005 10:00 am |
| Location | Commissioner's Conference Room
Virginia Department of Taxation Main Street Centre 600 East Main Street Richmond, Virginia 23219 (Please Report to the 15th Floor Security Desk) |
| Board Website | http://www.tax.virginia.gov |
| Agenda document |
Meeting Agenda
11/4/2005
(7k)
|
| Minutes document |
Meeting minutes
11/4/2005
(2k)
DRAFT
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| Disability Friendly? Yes Deaf interpreter available upon request? No | |
| Purpose of the meeting The 2005 General Assembly enacted Senate Bill 1332 (Chapter 901, Acts of Assembly, 2005 Regular Session). Senate Bill 1332 allows nonparticipating manufacturers (NPMs) to make an irrevocable assignment to the Commonwealth of all the funds in their escrow accounts and all future escrow payments. The Commonwealth is authorized to withdraw the assigned funds and use a portion of the funds to make incentive payments to small tobacco product manufacturers for their use of domestic tobacco. Qualifying manufacturers will be eligible to receive annual payments in calendar years 2007 through 2012 based on their use of domestic tobacco in manufacturing cigarettes in the preceding calendar year. Senate Bill 1332 requires the Department of Taxation to develop guidelines governing the payments to small tobacco product manufacturers purchasing domestic tobacco. TAX will hold a meeting on November 4, 2005 at 10:00 AM in the Commissioner’s Conference Room to receive comments and suggestions from interested parties regarding the incentive payment program. Please contact Joe Mayer, Tax Policy Analyst, at joseph.mayer@tax.virginia.gov if you are interested in attending this meeting. | |
| Meeting Scope |
Public hearing to receive comment on a proposed stage
X
General business of the board
Discuss particular regulations / chapters
|
| Contact Information | |
|---|---|
| Name / Title: | Joe Mayer / Tax Policy Analyst |
| Address: |
P.O. Box 27185 Richmond, 23261-7185 |
| Email Address: | joseph.mayer@tax.virginia.gov |
| Telephone: | (804)371-2299 FAX: (804)371-2355 |