§ 58.1-2214. Notice of discontinuance, sale or transfer of business
A. A licensee who discontinues in the Commonwealth the business for which the license was issued shall notify the Commissioner in writing of such discontinuance and shall surrender the license to the Commissioner. The notice shall state the effective date of the discontinuance and, if the licensee has transferred the business or otherwise relinquished control to another person by sale or otherwise, the date of the sale or transfer and the name and address of the person to whom the business is transferred or relinquished. The notice shall also include any other information required by the Commissioner.
B. If the licensee is a supplier, all taxes for which the supplier is liable under this chapter but are not yet due shall be due on the date of the discontinuance. If the supplier has transferred the business to another person and does not give the notice required by this section, the person to whom the business was transferred shall be liable for the amount of any tax owed by the supplier to the Commonwealth on the date the business was transferred. The liability of the person to whom the business was transferred shall not exceed the value of the property acquired from the supplier.
(2000, cc. 729, 758.)Sections: Previous 58.1-2207 58.1-2208 58.1-2209 58.1-2210 58.1-2211 58.1-2212 58.1-2213 58.1-2214 58.1-2215 58.1-2216 58.1-2217 58.1-2218 58.1-2219 58.1-2220 58.1-2221 Next
Last modified: April 3, 2009