When a credit or other tax attribute has been transferred from a transferor to a transferee pursuant to a statutory provision permitting such transfer, then:
1. The transferor shall be deemed to consent to the disclosure to the transferee of any confidential tax information relevant to the eligibility and value of the credit or other tax attribute transferred; and
2. The transferee shall be deemed to consent to the disclosure by the Department to the transferor of the amount of the transferred credit or other tax attribute used or absorbed on the transferee's tax return when such disclosure is necessary in the administration of the chapter.
2008, c. 549.
Structure Code of Virginia
General Provisions of Title 58.1
§ 58.1-2. Reciprocal agreements with other states for collection of taxes
§ 58.1-3. Secrecy of information; penalties
§ 58.1-3.2. Attorney General's and Tax Commissioner's authority to request and share information
§ 58.1-3.3. Deemed consent to disclosure
§ 58.1-4. Person preparing tax return for another not to disclose information without consent
§ 58.1-5. Persons, etc., engaged in more than one business
§ 58.1-6. Priority of taxes, etc., in distributions
§ 58.1-7. Same; liability of recipient of improper corporate distribution
§ 58.1-9. Filing of tax returns or payment of taxes by mail or otherwise; penalty
§ 58.1-10. Collection of taxes accrued prior to repeal
§ 58.1-11. Oaths or affirmations unnecessary on returns; misdemeanor to make false return
§ 58.1-12. Payment of tax by bad check
§ 58.1-13. State taxes to be paid into the general fund
§ 58.1-14. Out-of-state tax collections
§ 58.1-16. Overcollection of tax
§ 58.1-17. Donations to the general fund
§ 58.1-21. No decree for distribution until taxes paid or provided for
§ 58.1-22. Accounts not to be settled until taxes paid or provided for