Virginia Governor Signs Law Regarding Administration of Transient Occupancy Tax

The Virginia Governor March 23 signed a law regarding the administration of transient occupancy tax, for sales and use and excise tax purposes. The law includes measures: 1) requiring the Department of Taxation to annually publish the current transient occupancy tax rates imposed in each locality on its website; 2) providing that any change in the rate of any local tax will be effective on or after the first day of the calendar quarter following the calendar quarter in which the rate change is enacted; 3) clarifying that failure to provide notice would require the locality to apply the preceding ...