13.1-1062 - Assessment of annual registration fees; annual registration fees to be paid by domestic and foreign limited liability companies.
§ 13.1-1062. Assessment of annual registration fees; annual registration feesto be paid by domestic and foreign limited liability companies.
A. Each year, the Commission shall assess against every domestic limitedliability company, and every foreign limited liability company registered totransact business in the Commonwealth, an annual registration fee of $50, andeach such limited liability company shall pay into the state treasury theannual registration fee herein imposed, in accordance with subsection B.
The annual registration fee shall be imposed irrespective of any specificlicense tax or other tax or fee imposed by law upon the limited liabilitycompany for the privilege of carrying on its business in the Commonwealth orupon its franchise, property or receipts.
B. The Commission shall enter an order establishing the schedule forassessment of limited liability companies and payments due for suchassessment. Such order shall provide either:
1. That each year the Commission shall ascertain from its records eachdomestic limited liability company and each foreign limited liability companyregistered to transact business in the Commonwealth, as of July 1 of eachyear, and shall assess against each such limited liability company the annualregistration fee imposed in subsection A, and, except as provided insubsection C, that each such limited liability company shall pay theassessment due into the state treasury on or before September 30 in each yearafter the calendar year in which it was formed or registered to transactbusiness in the Commonwealth; provided that the initial annual registrationfee to be paid by a domestic limited liability company created by conversionshall be due in the year after the calendar year in which it converted; or
2. That each year the Commission shall ascertain from its records eachdomestic limited liability company and each foreign limited liability companyregistered to transact business in the Commonwealth as of the first day ofthe second month next preceding the month in which it was organized orregistered to transact business in the Commonwealth, and, except as providedin subsection C, that the limited liability company shall pay the assessmentdue into the state treasury on or before the last day of the twelfth monthnext succeeding the month in which it was organized or registered to transactbusiness in the Commonwealth, and by such date in each year thereafter;provided that the initial annual registration fee to be paid by a domesticlimited liability company created by conversion shall be due in the yearafter the calendar year in which it converted.
C. At the discretion of the Commission, the annual registration fee due datefor a limited liability company may be extended, on a monthly basis for aperiod of not less than one month nor more than 11 months, at the request ofits registered agent of record or as may be necessary to distribute annualregistration fee due dates of limited liability companies as equally aspracticable throughout the year on a monthly basis.
D. A statement of the assessment, when made, shall be forwarded by the clerkof the Commission to the Comptroller and to each domestic and foreign limitedliability company.
E. Registration fee assessments that have been paid shall not be refunded.
F. The fees paid into the state treasury under this section and the feescollected under § 13.1-1005 shall be set aside and paid into the special fundcreated under § 13.1-775.1, and shall be used only by the Commission as itdeems necessary to defray the costs of the Commission and of the office ofthe clerk of the Commission in supervising, implementing, administering andenforcing the provisions of this chapter. The projected excess of feescollected over the costs of administration and enforcement so incurred shallbe paid into the general fund prior to the close of each fiscal year, basedon the unexpended balance of the special fund at the end of the prior fiscalyear. An adjustment of this transfer amount to reflect actual fees collectedshall occur during the first quarter of the succeeding fiscal year.
(1991, c. 168; 1995, c. 621; 2001, c. 545; 2002, c. 1; 2006, c. 748; 2010, c.703.)