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Virginia Administrative Code
Title 23. Taxation
Agency 10. Department of Taxation
Chapter 500. Business, Professional and Occupational License Tax Regulations
11/21/2024

23VAC10-500-540. Interest and penalties.

The provisions of § 58.1-3703.1 of the Code of Virginia relating to interest and penalties apply to assessments made on and after January 1, 1997, even if for an earlier license year. Interest is charged on all late payments regardless of reason. A locality may impose a 10% penalty on an entity that fails to file a license application or return on time or on an entity that makes late payments. The 10% penalty and interest for late payment apply to license fees as well as the license tax.

Statutory Authority

§ 58.1-3701 of the Code of Virginia.

Historical Notes

Derived from Virginia Register Volume 24, Issue 23, eff. October 6, 2008.

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