58.1-2520 - Requirement of declaration. - Virginia Statutes

§ 58.1-2520. Requirement of declaration.

A. Every insurance company and nonstock corporation licensed pursuant toChapters 42 and 45 of Title 38.2 subject to the state license tax imposed by§ 58.1-2501 shall make a declaration of estimated tax if the tax imposed bythis chapter, for the license year, measured by direct gross premium income,can reasonably be expected to exceed $3,000.

Such declaration shall contain such pertinent information as the Commissionmay by forms or regulations prescribe.

B. Any such insurance company or nonstock corporation with a taxable year ofless than twelve months shall make a declaration in accordance withregulations prescribed by the Commission.

(Code 1950, § 58-502.2; 1968, c. 13; 1978, c. 4; 1984, c. 675; 1987, cc. 565,655.)