58.1-101 - Waiver of time limitation on assessment of taxes. - Virginia Statutes

§ 58.1-101. Waiver of time limitation on assessment of taxes.

Where before the expiration of the time prescribed for the assessment of anytax imposed pursuant to this title and assessable by the Department both theTax Commissioner and the taxpayer have consented in writing to its assessmentafter such time, the tax may be assessed at any time prior to the expirationof the period agreed upon. The period so agreed upon may be extended bysubsequent agreements in writing made before the expiration of the periodpreviously agreed upon.

(Code 1950, § 58-45.1; 1971, Ex. Sess., cc. 48, 245; 1984, c. 675.)