Mvr-420 Package - Virginia Motor Vehicle Rental Tax And Fee Page 3
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6• Worksheet is for your records only. Do NOT mail.
Form MVR-420A
• Transfer amounts from this worksheet to the
Virginia Motor Vehicle Rental
corresponding line number on Form MVR-420,
Tax Return Worksheet
Virginia Motor Vehicle Rental Tax Return.
• For assistance, call (804) 786-1509 or e-mail us at
RentalTaxUnit@tax.virginia.gov.
Return and payment are due on 20th of month following end of period.
1.
Gross Proceeds Subject to Rental Tax
Enter the gross rental proceeds subject to the 4% Rental Tax. Applies to rental transactions for
all motor vehicles (except mobile offices) with a gross vehicle weight rating or gross combined
weight rating of 26,000 pounds or less.
1.
2.
Adjustments to Line 1
Enter the total amount of bad debts on rental transactions charged off as worthless for
a.
federal income tax purposes.
2a.
Other, including Bad Debt Recovery reported on a previous return that was
b.
subsequently collected during the current reporting period.
2b.
Subtotal
c.
Line 2a plus Line 2b. If negative, enter in brackets.
2c.
3.
Exemptions from Rental Tax
Government Rentals Exemption - Enter the portion of your gross proceeds
a.
from rentals to any of the following:
• Federal Government or any of its agencies
• State of Virginia or any Virginia town, city, or county.
3a.
Re-Rentals Exemption - Enter your gross proceeds received from rentals to
b.
another licensed renter for the purpose of re-rental.
3b.
Other Exemptions - Enter the portion of your gross proceeds from rentals qualifying for
c.
any other exemption allowed by law. (Attach schedule to worksheet.)
3c.
d.
Total Exemptions. Add Line 3a through Line 3c.
3d.
4.
Net Proceeds Subject to Rental Tax
Line 1 minus the sum of Line 2c plus Line 3d.
If negative, enter "0" and carry excess to next return as "Other Adjustments."
4.
5.
Rental Tax Due
Enter the results of the following calculation:
Line 4 multiplied by 4% (.04).
5.
6.
Gross Proceeds Subject to Local Tax and Rental Fee
Enter the gross proceeds subject to the 4% Local Tax and the 2% Rental Fee. Applies to all
rental transactions (except motorcycles, manufactured homes, mobile offices and storage
trailers under 26,000 pounds).
6.
7.
Adjustments to Line 6
Enter the total amount of bad debts on rental transactions charged off as worthless for
a.
7a.
federal income tax purposes.
Other, including Bad Debt Recovery reported on a previous return that was
b.
7b.
subsequently collected during the current reporting period.
Subtotal
c.
Line 7a plus Line 7b. If negative, enter in brackets.
7c.
Page 3
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