Waives any penalties related to taxes administered by the Department of Taxation for a small business during its first two years of operation as long as the business enters into an installment agreement with the Tax Commissioner for the payment of taxes. However, the bill provides that the Department of Taxation shall not be required to waive penalties for conversion of trust taxes or failure to remit state sales or withholding taxes.
Virginia SB 793 (2017) — Small businesses; waiver of tax penalties.
Waives any penalties related to taxes administered by the Department of Taxation for a small business during its first two years of operation as long as the business enters into an installment agreement with the Tax Commissioner for the payment of taxes. However, the bill provides that the Department of Taxation shall not be required to waive penalties for conversion of trust taxes or failure to remit state sales or withholding taxes.
Version chain
The bill's text revisions, in order — the diff chain from filing to enrollment.
Governor: Acts of Assembly Chapter text (CHAP0718) (committee substitute) — source
Senate: Bill text as passed Senate and House (SB793ER) (committee substitute) — source