Virginia Extends Peanut Excise Tax Sunset to 2027

The Virginia Governor signed a law to amend §3.2-1905 of the Virginia Code, extending the sunset provision for the excise tax on peanuts grown and sold in the Commonwealth for processing. The law maintains the existing tax rate of $0.25 per 100 pounds of peanuts, with the provision that peanuts are not subject to the tax after it has been paid once. The law also extends the excise tax period to July 1, 2027. [S.B. 302, enacted 04/08/26]

This story was produced by Bloomberg Tax Automation, and edited by Bloomberg Tax staff.