State Codes and Statutes
Statutes > Virginia > Title-58-1 > Chapter-11 > 58-1-1113§ 58.1-1113. Penalty for failure to file returns of intangible personalproperty in time; delinquents; assessments on estimates.
The commissioner of the revenue shall assess a penalty equal to ten percentof the amount of taxes assessable thereon upon any return filed with thecommissioner of the revenue after the time prescribed for the filing ofreturns. In no case shall such penalty be less than ten dollars, and suchpenalty when so assessed shall become a part of the tax and shall becollected in the same manner as is provided by law for the collection ofother taxes.
At any time after the time required by law for filing such returns thecommissioner of the revenue shall secure a return from every delinquenttaxpayer within his jurisdiction or, if any such taxpayer refuses to make areturn or fails to make such return for fifteen days after the commissionerof the revenue calls upon him to do so, the commissioner of the revenue shallfrom the best information he can obtain make an estimate of the intangiblepersonal property of such taxpayer.
The commissioner of the revenue shall have authority to assess taxes,penalties and interest upon such estimate and such taxes, penalties andinterest shall be collected in like manner as is provided by law for thecollection of other state taxes.
(Code 1950, § 58-438; 1984, c. 675.)
