58.1-454 - Department may estimate corporation's tax when no return filed. - Virginia Statutes

§ 58.1-454. Department may estimate corporation's tax when no return filed.

If any report or return required to be made by any corporation under thischapter is not made as herein required, the Department is authorized to makean estimate of the net income of such corporation and of the amount of taxdue under this chapter, from any information in its possession, and to orderand state an account according to such estimate for the taxes, penalties andinterest due to the Commonwealth from such corporation.

(Code 1950, § 58-151.091; 1971, Ex. Sess., c. 171; 1984, c. 675.)