§ 13.1-936.1. Annual registration fees for domestic and foreign corporations
A. Every domestic corporation and every foreign corporation authorized to conduct its affairs in the Commonwealth shall pay the state treasury by its due date each calendar year an annual registration fee of $25.
The annual registration fee shall be irrespective of any specific license tax or other tax or fee imposed by law upon the corporation for the privilege of carrying on its business in the Commonwealth or upon its franchise, property or receipts. Nonstock corporations incorporated before 1970 which were not liable for the annual registration fee therefor shall not be liable for an annual registration fee hereafter.
B. The Commission shall ascertain from its records each corporation authorized to conduct its affairs in the Commonwealth, as of the first day of the second month next preceding the month of the corporation's annual registration fee due date each year, and shall assess against each corporation the registration fee herein imposed. In any year in which a corporation's due date is extended pursuant to this Act the registration fee assessment shall be increased by a prorated amount to cover the period of extension. A statement of the assessment, when made, shall be forwarded by the clerk of the Commission to the Comptroller and to each corporation.
C. Any corporation which fails to pay the registration fee herein imposed within the time prescribed shall incur a penalty as provided in subdivision B 1 of § 13.1-914 or in § 13.1-930, as the case may be, which shall be added to the amount of the registration fee. The penalty shall be in addition to any other penalty or liability provided by law.
D. The fees paid into the state treasury under this section shall be set aside as a special fund to be used only by the Commission as it deems necessary to defray all costs of staffing, maintaining and operating the office of the clerk of the Commission, together with all other costs incurred by the Commission in supervising, implementing and administering the provisions of Part 5 (§ 8.9A-501 et seq.) of Title 8.9A, this title, except for Chapters 5 (§ 13.1-501 et seq.) and 8 (§ 13.1-557 et seq.) and Article 6 (§ 55-142.1 et seq.) of Chapter 6 of Title 55, provided that one-half of the fees collected shall be credited to the general fund. The excess of fees collected over the projected costs of administration in the next fiscal year shall be paid into the general fund prior to the close of the fiscal year.
(1988, c. 405; 1991, c. 311; 1997, c. 216; 2007, c. 925.)
Sections: Previous 13.1-931.1 13.1-932 13.1-933 13.1-934 13.1-935 13.1-935.1 13.1-936 13.1-936.1 13.1-936.2 13.1-937 13.1-938 13.1-939 13.1-940 13.1-941 13.1-941.01 NextLast modified: April 16, 2009