Virginia Extends Sunset Date for Natural Gas and Oils Machinery and Equipment Exemption

Effective July 1, 2016, Virginia has enacted legislation extending the sunset date for the state’s sales and use tax exemption on machinery and tools, materials, and supplies used to drill, extract, or process natural gas or oil from July 1, 2016 to July 1, 2022.(Ch. 673 (S.B. 563), Laws 2016)

Posted on June 28, 2016