58.1-450 - Failure of corporation to make report or return. - Virginia Statutes

§ 58.1-450. Failure of corporation to make report or return.

Any corporation which fails to make any report or return required by thischapter within the time required shall be liable to a penalty equal to sixpercent of the amount of taxes assessable thereon if the failure is for notmore than one month, with an additional six percent for each additional monthor fraction thereof during which such failure to file continues, notexceeding thirty percent in the aggregate. In no case, however, shall thepenalty be less than $100, and such minimum penalty shall apply whether ornot any tax is due for the period for which the filing of a report or returnis required. Such penalty is to be assessed and collected by the Department,in the manner provided for the assessment and collection of taxes under thischapter or in a civil action, at the instance of the Department. In additionsuch corporation shall be compellable by mandamus to make such report orreturn.

(Code 1950, § 58-151.087; 1971, Ex. Sess., c. 171; 1984, c. 675; 1989, cc.629, 642; 1991, cc. 316, 331.)