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Virginia Law

Code of Virginia

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Code of Virginia
Title 60.2. Unemployment Compensation
Chapter 5. Taxation
1/15/2025

§ 60.2-503. Authority to terminate elections.

If any nonprofit organization is delinquent in making payments in lieu of taxes as required under subsection C of § 60.2-501, the Commission may terminate such organization's election to make payments in lieu of taxes as of the beginning of the next taxable year, and such termination shall be effective for that and the next taxable year.

1974, c. 466, § 60.1-89; 1981, cc. 248, 252; 1986, c. 480.

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.