                                 CODE OF VIRGINIA

PENALTY FOR FAILURE TO FILE RETURNS OF INTANGIBLE PERSONAL PROPERTY IN TIME;
DELINQUENTS; ASSESSMENTS ON ESTIMATES (§ 58.1-1113)

The commissioner of the revenue shall assess a penalty equal to ten percent of
the amount of taxes assessable thereon upon any return filed with the
commissioner of the revenue after the time prescribed for the filing of returns.
In no case shall such penalty be less than ten dollars, and such penalty when so
assessed shall become a part of the tax and shall be collected in the same
manner as is provided by law for the collection of other taxes.
		At any time after the time required by law for filing such returns the
commissioner of the revenue shall secure a return from every delinquent taxpayer
within his jurisdiction or, if any such taxpayer refuses to make a return or
fails to make such return for fifteen days after the commissioner of the revenue
calls upon him to do so, the commissioner of the revenue shall from the best
information he can obtain make an estimate of the intangible personal property
of such taxpayer.
		The commissioner of the revenue shall have authority to assess taxes,
penalties and interest upon such estimate and such taxes, penalties and interest
shall be collected in like manner as is provided by law for the collection of
other state taxes.

HISTORY: Code 1950, § 58-438; 1984, c. 675.