Virginia § 58.1-2526 Where declarations filed and how payments made; refunding overpayments

Virginia Statutes

§ 58.1-2526 — Where declarations filed and how payments made; refunding overpayments

Virginia § 58.1-2526

JurisdictionVirginia

Title 58.1TAXATION

Subtitle IITAXES ADMINISTERED BY OTHER AGENCIES

Ch. 25LICENSE TAX ON CERTAIN INSURANCE COMPANIES

Art. 2ESTIMATED TAX

This text of Virginia § 58.1-2526 (Where declarations filed and how payments made; refunding overpayments) is published on Counsel Stack Legal Research, covering Virginia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Va. Code Ann. § 58.1-2526 (2026).

Text

A.Every insurance company required by this article to file a declaration and make payment of the estimated tax shall file and pay the same with the Department. All such payments shall be deposited by the Department into the state treasury.

B.If any insurance company overestimates and overpays estimated tax or overpays as a result of increased regulatory costs imposed pursuant to § 38.2-1026, the Department shall issue a refund of the amount of the overpayment to the taxpayer. The overpayment shall be refunded out of the state treasury. No interest shall be paid on the refund of any overpayment.

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A. Every insurance company required by this article to file a declaration and make payment of the estimated tax shall file and pay the same with the Department. All such payments shall be deposited by the Department into the state treasury.

B. If any insurance company overestimates and overpays estimated tax or overpays as a result of increased regulatory costs imposed pursuant to § 38.2-1026, the Department shall issue a refund of the amount of the overpayment to the taxpayer. The overpayment shall be refunded out of the state treasury. No interest shall be paid on the refund of any overpayment.