CODE OF VIRGINIA

JEOPARDY ASSESSMENT (§ 58.1-2283)

If the Commissioner (i) receives notice from a supplier pursuant to subsection C
of § 58.1-2237 of any licensed distributor or licensed importer who did not pay
the tax due the supplier, or (ii) is of the opinion that the collection of any
tax or any amount of tax required to be collected and paid under this chapter
will be jeopardized by delay, the Commissioner shall make an assessment of the
tax or amount of tax required to be collected and shall mail or issue a notice
of such assessment to the taxpayer with a demand for immediate payment of the
tax or of the deficiency in tax declared to be in jeopardy, including penalties
and interest. In the case of a tax for a current period, the Commissioner may
declare the taxable period of the taxpayer immediately terminated and shall mail
or issue the notice of such finding and declaration to the taxpayer with a
demand for immediate payment of the tax based on the period declared terminated,
and such tax shall be immediately due and payable. Assessments provided for in
this section shall become immediately due and payable. If any such tax, penalty
or interest is not paid upon demand, the Commissioner may proceed to (i) collect
the same by legal process, including but not limited to filing a memorandum of
lien pursuant to § 58.1-2284 or (ii) accept a surety bond or other security
deemed to sufficiently ensure full payment of the amount of tax, penalty and
interest assessed against the taxpayer.

HISTORY: 2000, cc. 729, 758; 2004, c. 340.