Virginia Retail Sales Tax – Audit Penalties

Businesses located, or conducting business operations in Virginia, are subject to a sales and use tax audit. Interest is automatically applied to all audit assessments, but penalties are not automatically applied. This course explains under what conditions penalty is applied, how much penalty may be applied, and potential remedies to avoid an audit penalty.

This course, like all our courses, are designed and created with the intention that users will read all of the referenced materials. This should deepen each reader's understanding and better equip them to represent their clients' needs based on each client's unique circumstances.

Caution should be applied when reviewing the Rulings, Bulletins, or Court opinions noted in our courses. These are presented as informative, but not definitive. They are certainly not a replacement for any individual conducting their own research based on all the facts they have surrounding the specific topics and issues.

The Virginia Department of Taxation maintains a website with links to the tax code, as well as other resources that may be of value to you. This information can be quite overwhelming when researching an issue. Therefore, in creating this course, we have curated this information and presented it in a manner that builds your knowledge and understanding.

At the end of each chapter is a knowledge test with questions and scenarios related to each topic. You will find the solutions after each test. Be sure to take your time with these and go through each thoroughly since they will reinforce the subject taught and teach you to apply what you've learned.