78922360.2-535Virginia Decodedhttps://vacode.org2016Unemployment CompensationTaxationComputation Of Tax RateEmploying unit acquiring business, etc., of another employing unit1979, c. 634, § 60.1-88.01; 1983, c. 13; 1986, c. 480; 1995, c. 515; 1997, c. 409.http://law.lis.virginia.gov/vacode/60.2-535//60.2-535/60.2/5/4/60.2-53560.2-536

section

A

AA1

Upon written notification to the Commission that it does not desire the experience record of its predecessor, a succeeding or acquiring unit shall not be assigned such record. This notification shall be made to the Commission within sixty days of the later of (i) such acquisition or succession or (ii) the effective date of this section on a form approved by the Commission. Upon receipt thereof, the Commission shall assign the notifying unit the rate of a new employer. If the notification is not received within such sixty-day period, however, the Commission shall assign the succeeding or acquiring unit the experience record of its predecessor. The provisions of this subsection shall not be applicable to any successor that, at the time of the acquisition, was an employer subject to this title.section

B

BB1