§ 58.1-937. Filing of return; payment of tax
A. Every person required to file a return reporting a generation skipping transfer under applicable federal statutes and regulations shall file a return with the Department on or before the last day prescribed for filing the federal return. For purposes of this article the requirements for filing a return shall be satisfied by filing a duplicate copy of the federal return.
B. The tax imposed by this section shall be due upon a taxable distribution or taxable termination as determined under applicable provisions of the federal generation skipping transfer tax. The person liable for payment of the federal generation skipping transfer tax shall be liable for the tax imposed by this article. Such tax shall be paid to the Department on or before the last day allowed for filing a return hereunder. Interest computed as provided in § 58.1-15 shall accrue on the amount of unpaid tax from the day after such last day until paid.
(Code 1950, § 58-238.37; 1979, c. 559; 1984, c. 675.)
Sections: Previous 58.1-924 58.1-925 58.1-926 58.1-927 58.1-928 58.1-929 58.1-930 58.1-931 58.1-932 58.1-933 58.1-934 58.1-935 58.1-936 58.1-937 58.1-938 NextLast modified: April 16, 2009