CODE OF VIRGINIA

WAIVER OF TAX PENALTIES FOR SMALL BUSINESSES (§ 58.1-1817.1)

As used in this section, “small business” means an independently
owned and operated business that has been organized pursuant to Virginia law or
maintains a principal place of business in Virginia and has 10 or fewer
employees.
		Any penalties related to taxes administered by the Department shall be waived
for a small business during its first two years of operation, provided that such
small business enters into an agreement pursuant to § 58.1-1817. However, the
Department shall not be required to waive the penalty imposed by § 58.1-1816 or
any civil penalties for the failure to remit state sales or withholding taxes.

HISTORY: 2017, c. 718.