§ 58.1-2611. Penalty for failure to pay tax
A. Any person failing to pay the tax levied pursuant to this chapter into the state treasury within the time prescribed by law shall incur a penalty thereon of ten percent, which shall be added to the amount of the tax due.
B. Notwithstanding the provisions of subsection A, such penalty shall not accrue in any case unless the State Corporation Commission or the Department, as the case may be, mails the person a certified copy of the assessment on or before May 15 preceding. In the event such copy is not mailed on or before May 15 preceding, the penalty for nonpayment in time shall not accrue until the close of the fifteenth day next following the mailing of such certified copy of the assessment.
(Code 1950, §§ 58-514.1, 58-537, 58-561, 58-587, 58-601, 58-614, 58-626; 1956, c. 495; 1972, c. 813; 1983, c. 570; 1984, c. 675; 1999, c. 971.)
Sections: Previous 58.1-2604 58.1-2605 58.1-2606 58.1-2607 58.1-2608 58.1-2609 58.1-2610 58.1-2611 58.1-2612 58.1-2620 58.1-2621 58.1-2626 58.1-2626.1 58.1-2627 58.1-2627.1 NextLast modified: April 3, 2009