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Virginia Administrative Code
Title 23. Taxation
Agency 10. Department of Taxation
Chapter 390. Virginia Soft Drink Excise Tax Regulations
6/24/2024

23VAC10-390-40. Collection.

A. The soft drink excise tax is collected annually by the Department of Taxation. A payment for the amount of tax shall be made to the Department of Taxation no later than the due date prescribed in subsection B of this section.

B. Returns shall be filed with the Department of Taxation on or before the original due date for filing Virginia individual income tax returns under § 58.1-341 of the Code of Virginia, or if the taxpayer is a corporation, for filing Virginia corporate income tax returns under § 58.1-441 of the Code of Virginia.

C. A taxpayer may elect an extension of time within which to file the soft drink excise tax return to the extended due date set forth and in the manner prescribed for filing Virginia individual income tax returns on extension under § 58.1-344 of the Code of Virginia, or if the taxpayer is a corporation, for filing Virginia corporate income tax returns on extension under § 58.1-453 of the Code of Virginia.

1. If the full amount is not paid on or before the original due date, the penalty imposed by subsection D of this section for failure to pay when due the full amount shall apply regardless of whether the taxpayer properly elected to utilize an extension. Interest at the rate established pursuant to § 58.1-15 of the Code of Virginia accrues from the date the return was originally due to be filed to the date of payment.

2. If the return is not filed or the full amount of the tax due is not paid on or before the extended due date elected pursuant to this subsection, the penalty imposed by subsection D of this section for failure to file a return and for late filing shall apply as if no extension had been elected.

D. Subject to subsection C of this section, penalties are imposed for failure to file a return, for late filing, for filing a false or fraudulent return, and for failure to make full payment of the taxpayer's actual tax liability on or before the original return due date.

1. If the taxpayer is not a corporation, the nature and amount of the penalties imposed by this subsection shall be determined as if the comparable individual income tax penalties under §§ 58.1-347, 58.1-348, and 58.1-351 of the Code of Virginia apply to the soft drink excise tax rather than the individual income tax.

2. If the taxpayer is a corporation, the nature and amount of the penalties imposed by this subsection shall be determined as if the comparable corporate income tax penalties under §§ 58.1-450, 58.1-451, 58.1-452, and 58.1-455 of the Code of Virginia apply to the soft drink excise tax rather than the corporate income tax.

3. Interest is assessed on tax and applicable penalties in accordance with § 58.1-15 of the Code of Virginia.

Statutory Authority

§§ 58.1-203 and 58.1-1703 of the Code of Virginia.

Historical Notes

Derived from VR630-26-1703, eff. January 1, 1985, with retroactive effect according to § 58.1-203; amended, Virginia Register Volume 35, Issue 7, eff. February 11, 2019.

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