§ 58.1-2707. Refunds to motor carriers who give bond
A motor carrier not operating as an IFTA licensee may be required to give a surety company bond in the amount of not less than $2,000, as shall appear sufficient in the discretion of the Department, payable to the Commonwealth and conditioned that the carrier will pay all taxes due and to become due under this chapter from the date of the bond to the date when either the carrier or the bonding company notifies the Department that the bond has been canceled. The surety shall be a corporation authorized to write surety bonds in Virginia. So long as the bond remains in force the Department may order refunds to the motor carrier in the amounts appearing to be due on applications duly filed by the carrier under this chapter (§ 58.1-2700 et seq.) without first auditing the records of the carrier. The surety shall be liable for all omitted taxes assessed pursuant to § 58.1-2025 against the carrier, including the penalties and interest provided in such section, even though the assessment is made after cancellation of the bond, but only for taxes due and payable while the bond was in force and penalties and interest on the taxes.
(Code 1950, § 58-629.1; 1952, c. 281; 1962, c. 586; 1984, c. 675; 1986, c. 339; 1992, c. 309; 1993, c. 101; 1995, cc. 744, 803.)
Sections: Previous 58.1-2700.3 58.1-2701 58.1-2702 58.1-2703 58.1-2704 58.1-2705 58.1-2706 58.1-2707 58.1-2708 58.1-2709 58.1-2710 58.1-2711 58.1-2712 58.1-2712.1 58.1-2712.2 NextLast modified: April 16, 2009