{"data":{"id":"us-va/23vac10-500-540","jurisdiction":"us-va","citation":"23VAC10-500-540","heading":"Interest and penalties","body":"The provisions of § 58.1-3703.1 of the Code of Virginia relating to interest and penalties apply to assessments made on and after January 1, 1997, even if for an earlier license year. Interest is charged on all late payments regardless of reason. A locality may impose a 10% penalty on an entity that fails to file a license application or return on time or on an entity that makes late payments. The 10% penalty and interest for late payment apply to license fees as well as the license tax.","path":["Title 23. Taxation","Agency 10. Department of Taxation","Chapter 500. Business, Professional and Occupational License Tax Regulations"],"source_url":"https://law.lis.virginia.gov/admincode/title23/agency10/chapter500/section540/","current_through":"2026 Regular Session (effective July 1, 2026)","vintage":"","retrieved_at":"2026-09-14T04:54:18Z","sha256":"92b1bde549cdda3a848e8b02e54370ea35fd2a459701410ef7d43af6f9b21f34","source_id":"us-va-vac","stale":false,"prev":"us-va/23vac10-500-530","next":"us-va/23vac10-500-550"},"notice":"GroundRules: Original legal text. Not legal advice."}