What are my tax obligations if I am an employee or family member of an auto manufacturer in the Commonwealth of Virginia that leases a vehicle classified as merchants' capital under Virginia Code?
The local tax treatment of vehicles leased to employees of automobile manufacturers headquartered in Virginia changed effective July 1, 2008. As of that date, vehicles of automotive manufacturers headquartered in Virginia leased by the manufacturer’s employee or employee’s family member are classified as merchants' capital. Since Loudoun County does not impose a tax on merchants' capital, these vehicles are not subject to local personal property tax in Loudoun and are not required to be registered with the Commissioner of the Revenue.

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1. What are my tax obligations if I am an employee or family member of an auto manufacturer in the Commonwealth of Virginia that leases a vehicle classified as merchants' capital under Virginia Code?