58.1-2646 - Extensions of time. - Virginia Statutes

§ 58.1-2646. Extensions of time.

The Commission may grant a reasonable extension of time for payment ofestimated tax or any installment, or for filing any declaration on conditionthat the taxpayer shall pay interest on the amount involved at the rate ofthree-fourths of one percent per month or fraction thereof from the time thepayment was due until the time of payment. Whenever the taxpayer, withouthaving been granted an extension, fails to make payment of estimated tax orany installment, or file any declaration, it shall pay interest on the amountinvolved at the rate prescribed in § 58.1-15 from the time payment was dueuntil the time of payment.

(Code 1950, § 58-514.6; 1968, c. 15; 1972, c. 152; 1984, c. 675.)