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Virginia Law

Code of Virginia

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Code of Virginia
Title 58.1. Taxation
Chapter 11. Intangible Personal Property Tax
12/13/2024

§ 58.1-1113. Penalty for failure to file returns of intangible personal property in time; delinquents; assessments on estimates.

The commissioner of the revenue shall assess a penalty equal to ten percent of the amount of taxes assessable thereon upon any return filed with the commissioner of the revenue after the time prescribed for the filing of returns. In no case shall such penalty be less than ten dollars, and such penalty when so assessed shall become a part of the tax and shall be collected in the same manner as is provided by law for the collection of other taxes.

At any time after the time required by law for filing such returns the commissioner of the revenue shall secure a return from every delinquent taxpayer within his jurisdiction or, if any such taxpayer refuses to make a return or fails to make such return for fifteen days after the commissioner of the revenue calls upon him to do so, the commissioner of the revenue shall from the best information he can obtain make an estimate of the intangible personal property of such taxpayer.

The commissioner of the revenue shall have authority to assess taxes, penalties and interest upon such estimate and such taxes, penalties and interest shall be collected in like manner as is provided by law for the collection of other state taxes.

Code 1950, § 58-438; 1984, c. 675.

The chapters of the acts of assembly referenced in the historical citation at the end of this section may not constitute a comprehensive list of such chapters and may exclude chapters whose provisions have expired.