58.1-2707 - Refunds to motor carriers who give bond. - Virginia Statutes

§ 58.1-2707. Refunds to motor carriers who give bond.

A motor carrier not operating as an IFTA licensee may be required to give asurety company bond in the amount of not less than $2,000, as shall appearsufficient in the discretion of the Department, payable to the Commonwealthand conditioned that the carrier will pay all taxes due and to become dueunder this chapter from the date of the bond to the date when either thecarrier or the bonding company notifies the Department that the bond has beencanceled. The surety shall be a corporation authorized to write surety bondsin Virginia. So long as the bond remains in force the Department may orderrefunds to the motor carrier in the amounts appearing to be due onapplications duly filed by the carrier under this chapter (§ 58.1-2700 etseq.) without first auditing the records of the carrier. The surety shall beliable for all omitted taxes assessed pursuant to § 58.1-2025 against thecarrier, including the penalties and interest provided in such section, eventhough the assessment is made after cancellation of the bond, but only fortaxes due and payable while the bond was in force and penalties and intereston the taxes.

(Code 1950, § 58-629.1; 1952, c. 281; 1962, c. 586; 1984, c. 675; 1986, c.339; 1992, c. 309; 1993, c. 101; 1995, cc. 744, 803.)