                                 CODE OF VIRGINIA

GENERAL PROVISIONS (§ 60.2-526)

A. For each calendar year commencing after December 31, 1981, the tax rate of
each employer, whose experience rating account has been chargeable with benefits
during the most recent twelve completed calendar month period ending on June 30
of the calendar year immediately preceding the calendar year for which a tax
rate is being determined, shall be computed as provided in this chapter.

B. Notwithstanding the provisions of subsection A of this section, the tax rate
of each employer newly subject to this title, including any nonprofit
organization which has elected to become liable for payments in lieu of taxes
under the provisions of subsection B of &#xA7; 60.2-501 and thereafter
terminates such election, shall be 2.5 percent, except that at such time as it
is eligible for computation as hereinafter provided, the tax rate shall become
the computed rate. The Commission shall notify each such employer of his tax
rate for such calendar year not later than December 31 immediately preceding
such year, but the failure of any such employer to receive such notice shall not
relieve him from liability for such tax.

HISTORY: Code 1950, § 60-67; 1952, c. 184; 1954, c. 203; 1956, c. 440; 1960, c.
136; 1968, c. 738, § 60.1-79; 1971, Ex. Sess., c. 235; 1974, c. 466; 1980, c.
406; 1981, c. 606; 1982, c. 370; 1983, c. 16; 1986, c. 480; 1995, c. 323; 1997,
c. 298; 1999, c. 313.