58.1-2283 - Jeopardy assessment.
§ 58.1-2283. Jeopardy assessment.
If the Commissioner (i) receives notice from a supplier pursuant tosubsection C of § 58.1-2237 of any licensed distributor or licensed importerwho did not pay the tax due the supplier, or (ii) is of the opinion that thecollection of any tax or any amount of tax required to be collected and paidunder this chapter will be jeopardized by delay, the Commissioner shall makean assessment of the tax or amount of tax required to be collected and shallmail or issue a notice of such assessment to the taxpayer with a demand forimmediate payment of the tax or of the deficiency in tax declared to be injeopardy, including penalties and interest. In the case of a tax for acurrent period, the Commissioner may declare the taxable period of thetaxpayer immediately terminated and shall mail or issue the notice of suchfinding and declaration to the taxpayer with a demand for immediate paymentof the tax based on the period declared terminated, and such tax shall beimmediately due and payable. Assessments provided for in this section shallbecome immediately due and payable. If any such tax, penalty or interest isnot paid upon demand, the Commissioner may proceed to (i) collect the same bylegal process, including but not limited to filing a memorandum of lienpursuant to § 58.1-2284 or (ii) accept a surety bond or other security deemedto sufficiently ensure full payment of the amount of tax, penalty andinterest assessed against the taxpayer.
(2000, cc. 729, 758; 2004, c. 340.)