HB89 - Taxation; rate of interest.
Virginia - 2024 Regular Session
Introduced byJoseph P. McNamara
Last updated 9 months ago
1 Co-Sponsor
Taxation; rate of interest. Provides that (i) the rate of interest on omitted taxes and assessments is equal to the Underpayment Rate established by the Internal Revenue Code and (ii) the rate of interest on refunds is equal to the Overpayment Rate for noncorporate taxpayers established by the Internal Revenue Code. Current law provides that (a) the rate of interest on omitted taxes and assessments is equal to the Underpayment Rate plus two percent and (b) the rate of interest on refunds is equal to the Overpayment Rate for noncorporate taxpayers plus two percent.
STATUS
Introduced
Verifications Required
You must be a verified voter to do that.
No Thanks, I'll do it later
Verify your identity now