                                 CODE OF VIRGINIA

ALTERNATIVE REPORTING AND PAYMENT METHOD (§ 58.1-399.3)

Under procedures adopted by and subject to the approval of the Department, an
audited partnership or a tiered partner may enter into an agreement with the
Department to use an alternative reporting and payment method. However, the
Department shall enter into such agreement only if such audited partnership or
tiered partner demonstrates, to the satisfaction of the Department, that the
alternative method is reasonably expected to provide for the reporting and
payment of taxes, penalties, and interest due under the provisions of this
article. Application for approval of an alternative reporting and payment method
shall be made by the audited partnership or tiered partner within the applicable
time period specified in § 58.1-399.1 or 58.1-399.2.

HISTORY: 2020, c. 1030.