Bill Status
WV Code
Audits/ Reports

Introduced Version House Bill 3211 History

   |  Email

H. B. 3211

(By Delegates Amores, Browning, Staton, Craig and G. White)

[Introduced March 24, 2005 ; referred to the

Committee on the Judiciary.]

A BILL to amend the code of West Virginia, 1931, as amended, by adding thereto a new article, designated §47-17-1, relating to providing that a purchaser of motor fuel may by contract delay payment of reimbursement of federal taxes due on the motor fuel purchase to the vendor until one day before the federal taxes are due from the vendor.

Be it enacted by the Legislature of West Virginia:
That the code of West Virginia, 1931, as amended, be amended by adding thereto a new article, designated §47-17-1
, to read as follows:
§47-17-1. Contracts for the payment of manufactures' excise taxes.
(a) If a contract requires one party to reimburse another party for taxes levied under Part III of Subchapter A of Chapter 32 of the federal Internal Revenue Code, the party making the reimbursement, at its option, shall not be required to reimburse the other party more than one business day before the other party is required to remit the taxes to the Internal Revenue Service.
(b) If a party chooses to exercise its option under subsection (a) of this section, and provision is not already provided in the contract, the party shall notify the other party in writing of its intention. The option may not be exercised until at least thirty days after the written notification or the beginning of the next federal tax quarter, whichever is later.
(c) The party to be reimbursed under subsection (a) of this section may require security from the reimbursing party for the payment of the taxes in proportion to the amount the taxes represent compared to the security required on the contract as a whole. The party to be reimbursed shall not change other payment terms of the contract due to the timing of the tax reimbursement, but may require the taxes to be reimbursed by electronic transfer of funds.
(d) This section applies to all continuing contracts now in effect that have no expiration date and all contracts entered into or renewed after the effective date of this section as enacted in two thousand five.
Note: The purpose of the bill is to permit purchasers of motor fuels upon which federal tax is due to delay payment of reimbursement of the taxes to the vendor until the day before the payment is due the Internal Revenue Service.

§47-17-1 is new; therefore, strike-throughs and underscoring have been omitted.
This Web site is maintained by the West Virginia Legislature's Office of Reference & Information.  |  Terms of Use  |   Web Administrator   |   © 2017 West Virginia Legislature *

Print On Demand