58.1-905 - Filing returns; payment of tax due thereon. - Virginia Statutes

§ 58.1-905. Filing returns; payment of tax due thereon.

A. The personal representative of every estate subject to the tax imposed bythis chapter who is required by the laws of the United States to file afederal estate tax return shall file with the Department, on or before thedate the federal estate tax return is required to be filed: (i) a return forthe tax due under this chapter; and (ii) a copy of the federal estate taxreturn.

B. If the personal representative has obtained an extension of time forfiling the federal estate tax return or paying the federal estate tax or anyportion thereof, the filing required by subsection A or payment required bysubsection C shall be similarly extended until the end of the time periodgranted in the federal extension. Upon obtaining an extension of time forfiling the federal estate tax return, or paying the federal estate tax or anyportion thereof, the personal representative shall provide the Departmentwith a true copy of the instrument providing for this extension.

C. The tax due under this chapter shall be paid by the personalrepresentative to the Department not later than the date specified undersubsection A or B. If such tax is paid pursuant to subsection B, interest, ata rate equal to the rate of interest established pursuant to § 58.1-15, shallbe added for the period between the date when such tax would have been duehad no extension been granted and the date of full payment.

D. Notwithstanding any other provision of this section, the extensionsprovided to individual taxpayers under subdivisions 1 and 2 of subsections Fand G of § 58.1-344 shall be applicable in the same manner to the tax imposedby this chapter.

(Code 1950, § 58-238.6; 1978, c. 838; 1984, c. 675; 1990, c. 700; 1991, cc.346, 361; 1996, c. 401.)