Virginia Code 58.1-2610: Penalty for failure to file timely report.
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Any person failing to make a report required under the provisions of this chapter within the time prescribed shall be liable to a penalty of $100 for each day such taxpayer is late in making such report. The State Corporation Commission or Tax Commissioner, as the case may be, may waive all or a part of such penalty for good cause.
Terms Used In Virginia Code 58.1-2610
- Commission: means the State Corporation Commission which is hereby designated pursuant to Article X, § 2 of the Constitution of Virginia as the central state agency responsible for the assessment of the real and personal property of all public service corporations, except those public service corporations for which the Department of Taxation is so designated, upon which the Commonwealth levies a license tax measured by the gross receipts of such corporations. See Virginia Code 58.1-2600
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Person: includes any individual, corporation, partnership, association, cooperative, limited liability company, trust, joint venture, government, political subdivision, or any other legal or commercial entity and any successor, representative, agent, agency, or instrumentality thereof. See Virginia Code 1-230
- State: when applied to a part of the United States, includes any of the 50 states, the District of Columbia, the Commonwealth of Puerto Rico, Guam, the Northern Mariana Islands, and the United States Virgin Islands. See Virginia Code 1-245
- Tax Commissioner: means the chief executive officer of the Department of Taxation or his designee. See Virginia Code 58.1-2600
Code 1950, §§ 58-514, 58-539, 58-625; 1978, c. 784; 1983, c. 570; 1984, c. 675; 1999, c. 971.