Section 98-17 LIMITATION ON GROSS RECEIPTS.
Gross receipts of real estate brokers for license tax purposes, under Chapter 37 (Section 58.1-3700, et seq.) of Title 58.1 of the Code of Virginia and this Chapter, shall not include amounts received by any broker which arise from real estate sales transactions to the extent that such amounts are paid to a real estate agent as a commission on any real estate sales transaction and the agent is subject to the business license tax on such receipts. The broker claiming the exclusion shall identify on its license application each agent to whom the excluded receipts have been paid, and the jurisdiction in the Commonwealth of Virginia to which the agent is subject to business license taxes.
(Ord. No. 2-96 Amended by Reserving Section 2-12-96-Effective Upon Passage)
(Ord. No. 13-96 Added Entire Section 12-16-96-Effective Upon Passage)