§ 58.1-2525. Extensions of time
The Commission may grant a reasonable extension of time for payment of estimated tax, or any installment, or for filing any declaration pursuant to this article, on condition that the taxpayer shall pay interest on the amount involved at the rate of three-fourths of one percent per month or fraction thereof from the time the payment was due until the time of payment. Whenever the taxpayer, without having been granted an extension, fails to make payment of estimated tax, or any installment, or file any declaration as required by this article, it shall pay interest on the amount involved at the rate of one percent per month or fraction thereof from the time payment was due until the time of payment.
(Code 1950, § 58-502.4; 1968, c. 13; 1972, c. 153; 1984, c. 675.)
Sections: Previous 58.1-2509 58.1-2510 58.1-2511 58.1-2520 58.1-2521 58.1-2522 58.1-2523 58.1-2524 58.1-2525 58.1-2526 58.1-2527 58.1-2528 58.1-2529 58.1-2530 58.1-2531 NextLast modified: April 3, 2009