                                 CODE OF VIRGINIA

FILING OF RETURN; PAYMENT OF TAX (§ 58.1-937)

A. Every person required to file a return reporting a generation skipping
transfer under applicable federal statutes and regulations shall file a return
with the Department on or before the last day prescribed for filing the federal
return. For purposes of this article the requirements for filing a return shall
be satisfied by filing a duplicate copy of the federal return.

B. The tax imposed by this section shall be due upon a taxable distribution or
taxable termination as determined under applicable provisions of the federal
generation skipping transfer tax. The person liable for payment of the federal
generation skipping transfer tax shall be liable for the tax imposed by this
article. Such tax shall be paid to the Department on or before the last day
allowed for filing a return hereunder. Interest computed as provided in &#xA7;
58.1-15 shall accrue on the amount of unpaid tax from the day after such last
day until paid.

HISTORY: Code 1950, § 58-238.37; 1979, c. 559; 1984, c. 675.