State Codes and Statutes
Statutes > Virginia > Title-58-1 > Chapter-6 > 58-1-629§ 58.1-629. Sale of business.
If any dealer liable for any tax, penalty, or interest levied hereunder sellsout his business or stock of goods or quits the business, he shall make afinal return and payment within fifteen days after the date of selling orquitting the business. His successors or assigns, if any, shall withholdsufficient of the purchase money to cover the amount of such taxes,penalties, and interest due and unpaid until such former owner produces areceipt from the Tax Commissioner showing that they have been paid or acertificate stating that no taxes, penalties, or interest is due. If thepurchaser of a business or stock of goods fails to withhold the purchasemoney as above provided, he shall be personally liable for the payment of thetaxes, penalties, and interest due and unpaid on account of the operation ofthe business by any former owner. Nothing herein shall be deemed to qualifyor limit the exemption as to such a sale as is covered by subdivision 2 of §58.1-609.10.
(Code 1950, § 58-441.30; 1966, c. 151; 1984, c. 675; 1993, c. 310.)
