Virginia Governor Signs Excise Tax Law Regarding Penalty for Failure to Timely Pay Litter Tax

The Virginia Governor March 22 signed a law on litter tax, for excise tax purposes. The law includes measures: 1) limiting the Department of Taxation’s ability to impose a penalty and interest for failure to pay the litter tax in full without notifying a taxpayer 30 days prior to the date that a return must be filed; and 2) specifying that the penalty shall be added to the tax if not paid by May 1. This bill is identical to HB 1645. The law takes effect July 1. [/VA\FINAL\2023R1SB996///, enacted 03/22/23]

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