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Bill

Bill

SB 766

Retail Sales and Use Tax; penalty and interest for certain dealers.

2026 Regular Session Introduced by Joe McNamara and 1 co-sponsor

SB 766 modifies Virginia sales tax penalties and interest rates for noncompliant retailers, affecting state revenue and business compliance costs.

Passed by indefinitely in Finance and Appropriations (10-Y 5-N)
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WeVote Research Nonpartisan
Bill Summary · SB 766

Legislative bill overview

SB 766 modifies Virginia's retail sales and use tax penalties and interest provisions for certain dealers. The bill appears to adjust how penalties and interest are calculated or applied to retailers who fail to comply with sales tax requirements, though specific amendment language would clarify the exact changes from current law.

Why is this important

Sales tax compliance directly affects state revenue and the competitive landscape between retailers. How penalties are structured influences business compliance behavior and can have meaningful financial consequences for retail operations, particularly small businesses that may lack dedicated tax compliance staff.

Potential points of contention

  • Penalty severity and fairness: Questions about whether adjusted penalties disproportionately burden small retailers versus large chains with compliance resources
  • Revenue impact: The fiscal statement suggests measurable budgetary effects; debate likely centers on whether changes reduce or increase projected state tax collections
  • Retroactivity concerns: Whether penalties apply to past transactions or only prospectively, affecting businesses currently under audit

Compiled from official sources — confirm details with the bill’s official record.

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