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2016 SESSION
16105604DBe it enacted by the General Assembly of Virginia:
1. That §§ 58.1-472 and 58.1-478 of the Code of Virginia are amended and reenacted as follows:
§ 58.1-472. Employer's returns and payments of withheld taxes.
Every employer required to deduct and withhold from an employee's wages under this article shall make return and pay over to the Tax Commissioner the amount required to be withheld hereunder as follows:
1. Every employer whose monthly liability is less than $100 or who is subject to subdivision 3 shall make return and pay over the required amount on or before the last day of the month following the close of each quarterly period;
2. Every employer whose average monthly liability can reasonably be expected to be $100 or more shall file a return and pay the tax monthly, on or before the twenty-fifth day of the following month;
3. Every employer whose average monthly liability can
reasonably be expected to be $1,000 or more and the aggregate amount required
to be withheld by any employer exceeds $500 shall, in addition to the
requirements of subdivision 1 of this section, file a form with the
Commissioner within three banking days following the close of any period for
which the employer is required to deposit federal withholding tax and pay the
amount so withheld, except when a payment is due within three days of the due
date for the filing of the quarterly returns, then such payment shall be made
with such return. Any employer otherwise required to file a return and pay the
withholding tax pursuant to this subdivision that has no more than five
employees subject to withholding under this article may request a waiver from
the Tax Commissioner authorizing the employer to file the return and pay the
withholding tax pursuant to subdivision 2.
The Tax Commissioner may authorize an employer to file
seasonal returns when in his opinion the administration of the tax imposed
under this article would be enhanced. Any employer making payment under
subdivision 3 of this section will be deemed to have met the
requirements hereof if at least ninety percent of actual tax liability for such
period is paid. Employers authorized to file seasonal returns under this
paragraph shall file each return on or before the twentieth of the month
following the close of the reporting period.
The returns and forms filed under this section shall be in
such form electronic medium and contain such information as the
Tax Commissioner may prescribe.
§ 58.1-478. Withholding tax statements for employees; employers must file annual returns with Tax Commissioner; penalties.
A. Every person required to deduct and withhold from an employee's wages under this article shall furnish to each such employee in respect to the remuneration paid by such person to such employee during the calendar year, on or before January 31 of the succeeding year, or if his employment is terminated before the close of such calendar year, on the day on which the last payment of remuneration is made, a written statement in duplicate showing the following: (i) the name of such person; (ii) the name of the employee and his social security account number; (iii) the total amount of wages; and (iv) the total amount deducted and withheld under this article by such employer.
B. The written statements required to be furnished pursuant to this section in respect of any remuneration shall be furnished at such other times, shall contain such other information, and shall be in such form as the Tax Commissioner may by regulations prescribe.
C. 1. Every employer shall file an annual return with the Tax
Commissioner, setting forth such information as the Tax Commissioner may
require, not later than February 28 January 31 of the calendar
year succeeding the calendar year in which wages were withheld from employees,
and such annual return shall be accompanied by an additional copy of each of
the written statements furnished to each employee under subsections A
and B of this section.
2. Every employer who furnishes 250 or more written
statements to employees under subsections A and B for any calendar year
beginning before January 1, 2010, who furnished 150 or more such statements for
any calendar year beginning on and after January 1, 2010, or who furnishes 50
or more such statements for any calendar year beginning on and after January 1,
2011, shall file the annual report return and copies of written
statements required under this subsection using an electronic medium using
a format prescribed by the Tax Commissioner. Waivers shall be granted only if
the Tax Commissioner finds that this requirement creates an unreasonable burden
on the employer. All requests for waiver shall be submitted to the Tax
Commissioner in writing. Employers who furnish fewer than 250 written
statements to employees under subsections A and B may, at such employer's
option, file such annual report on an electronic medium in lieu of filing the
annual report on paper.
D. The Tax Commissioner shall have the authority to require every employer to furnish the names and social security numbers of all employees whose wages or withholding amounts for the taxable year are below levels specified by the Commissioner.