Virginia · 2026 Regular Session · Bill
SB 697: Retail Sales and Use Tax; dealer discount.
In committee Official data
- Introduced
- In committee
- Passed one chamber
- Passed both chambers
- Enacted
Last official action: ·Record last updated:
Plain-language summary
SB 697 is a bill introduced in the Virginia Senate on January 14, 2026. According to its official title, it concerns: Retail Sales and Use Tax; dealer discount. Primary sponsor: Tammy Mulchi (Republican). Most recent recorded action (January 28, 2026): Passed by indefinitely in Finance and Appropriations (10-Y 4-N).
Generated automatically from the official title, sponsor list, and status record only. It does not characterize the bill’s purpose or effects. How summaries are written
Official summary
Abstract published by the legislature (via Open States). Text as published by the legislature; reproduced verbatim.
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.
Sponsors
Sponsors by party (alphabetical): Republican 1
| Name | Role | Party | Chamber | District |
|---|---|---|---|---|
| Tammy Mulchi | Primary sponsor | Republican | Senate | 9 |
“Support” is shown only as formal sponsorship recorded by the legislature. Roll-call votes are available on the official bill page.
Recent official actions
- Passed by indefinitely in Finance and Appropriations (10-Y 4-N)
- Fiscal Impact statement From TAX (1/26/2026 11:29 pm)
- Referred to Committee on Finance and Appropriations
- Prefiled and ordered printed; Offered 01-14-2026 26100518D