State Codes and Statutes
Statutes > Virginia > Title-58-1 > Chapter-11 > 58-1-1116§ 58.1-1116. Failure to pay tax when due; civil penalties.
If any tax or part thereof is not paid in full when due, there shall be addedto the amount unpaid a penalty of five percent of the amount thereof. Theentire tax or any unpaid balance thereof, together with penalty, shallimmediately become collectible. Interest upon such unpaid balance and thepenalty provided by this section shall be added at a rate determined inaccordance with § 58.1-15, from one month after the tax was originally dueuntil paid. In the case of an additional tax assessed by the commissioner ofthe revenue, if the return was made in good faith and the understatement ofthe amount in the return was not due to any fault of the taxpayer, thereshall be no penalty on the additional tax because of such understatement, butinterest shall be added to the amount of the deficiency at a rate determinedin accordance with § 58.1-15, from the time the said return was required bylaw to be filed until paid.
(Code 1950, § 58-441; 1960, c. 508; 1977, c. 396; 1984, c. 675.)
