                                 CODE OF VIRGINIA

PENALTY FOR FAILURE TO FILE INCOME TAX RETURNS IN TIME (§ 58.1-347)

All individual or fiduciary income tax returns required by law to be filed with
the commissioner of the revenue shall be filed with the commissioner of the
revenue within the time required by this chapter, unless the time for filing
such returns is extended by the Department. Upon all returns on which tax is
due, filed with or assessed by the commissioner of the revenue after the time
herein prescribed for the filing of returns, the commissioner of the revenue
shall assess a penalty equal to six percent of the amount of taxes assessable
thereon if the failure is for not more than one month, with an additional six
percent for each additional month or fraction thereof during which such failure
to file continues, not exceeding thirty percent in the aggregate. Such penalty
shall be collected in the same manner as is provided by law for the collection
of other taxes.

HISTORY: Code 1950, § 58-151.073; 1971, Ex. Sess., c. 171; 1974, c. 178; 1984,
c. 675; 1989, cc. 629, 642; 1991, cc. 316, 331.