                                 CODE OF VIRGINIA

ANNUAL REGISTRATION FEES TO BE PAID BY DOMESTIC AND FOREIGN LIMITED PARTNERSHIPS
(§ 50-73.67)

A. Every domestic limited partnership, and every foreign limited partnership
registered to transact business in the Commonwealth, shall pay into the state
treasury on or before October 1 in each year after the calendar year in which it
was formed or registered to transact business in the Commonwealth an annual
registration fee of $50, provided that the initial annual registration fee to be
paid by a domestic limited partnership created by an entity conversion from a
domestic stock corporation shall be due in the year after the calendar year in
which the conversion became effective when the annual registration fee of the
domestic stock corporation was paid for the calendar year in which the
conversion became effective.
			The annual registration fee shall be imposed irrespective of any specific
license tax or other tax or fee imposed by law upon the domestic or foreign
limited partnership for the privilege of carrying on its business in the
Commonwealth or upon its franchise, property, or receipts.

B. Each year, the Commission shall ascertain from its records each domestic
limited partnership and each foreign limited partnership registered to transact
business in the Commonwealth as of July 1 and, except as provided in subsection
A, shall assess against each such limited partnership the annual registration
fee herein imposed.

C. A statement of the assessment, when made, shall be forwarded by the clerk of
the Commission to the Comptroller and to each domestic and foreign limited
partnership.

D. A domestic or foreign limited partnership shall not be required to pay the
annual registration fee assessed against it pursuant to subsection B in any year
if (i) the Commission issues or files any of the following types of certificate
or instrument and (ii) the certificate or instrument is effective on or before
the annual registration fee due date:

   1. A certificate of cancellation of existence for a domestic limited
   partnership;

   2. A certificate of cancellation for a foreign limited partnership;

   3. A certificate of merger or an authenticated copy of an instrument of merger
   for a domestic or foreign limited partnership that has merged into a surviving
   domestic limited partnership or other business entity or into a surviving
   foreign limited partnership or other business entity; or

   4. An authenticated copy of an instrument of entity conversion for a foreign
   limited partnership that has converted into a different entity type.
   				The Commission shall cancel the annual registration fee assessments
   specified in this subsection that remain unpaid.

E. Annual registration fee assessments that have been paid shall not be
refunded.

F. The fees paid into the state treasury under this section and the fees
collected under subsection B of &#xA7; 50-73.17 shall be set aside and paid into
the special fund created under &#xA7; 13.1-775.1, and shall be used only by the
Commission as it deems necessary to defray the costs of the Commission and of
the office of the clerk of the Commission in supervising, implementing,
administering and enforcing the provisions of this chapter. The projected excess
of fees collected over the costs of administration and enforcement so incurred
shall be paid into the general fund prior to the close of each fiscal year,
based on the unexpended balance of the special fund at the end of the prior
fiscal year. An adjustment of this transfer amount to reflect actual fees
collected shall occur during the first quarter of the succeeding fiscal year.

HISTORY: 1985, c. 607; 1987, c. 702; 1991, c. 434; 1995, c. 621; 2002, c. 441;
2007, cc. 631, 810; 2013, c. 18; 2021, Sp. Sess. I, c. 487.