Virginia Tax Commissioner Issues Ruling Upholding Retail Sales, Use Tax Assessment on Taxpayer

The Virginia Tax Commissioner issued a ruling upholding a retail sales and use tax assessment against taxpayer based on the best available information because taxpayer failed to provide adequate records to verify tax compliance during the audit period from February 2021 through January 2024. The ruling cited the taxpayer’s lack of substantiating records as failing to meet the burden of proof to overcome the statutory presumption that the estimated assessment was correct. The ruling directed that a revised bill be issued to the taxpayer with accrued interest, but no additional interest would accrue if paid within 30 days. [Va. Dep’t ...