2006 Code of Virginia § 3.1-660 - Penalty and interest on delinquent tax
3.1-660. Penalty and interest on delinquent tax.
If the tax imposed hereby is not paid when due the State Department ofTaxation shall immediately notify the taxpayer of such deficiency and shalladd thereto a penalty of five percent of the amount due and if suchdeficiency be not paid within thirty days from the date of such notice thesame shall bear interest at a rate determined in accordance with 58.1-1812,from the date the same was due, which shall be collected as a part of thetax; provided that the Department may waive or remit the penalty of fivepercent, or a portion thereof, in its discretion for good cause shown.
(Code 1950, 3-525.14; 1966, c. 702; 1977, c. 396.)
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