§ 8-5. Limitations and extensions.

(a)

Where, before the expiration of the time prescribed for the assessment of any license tax imposed pursuant to this article, both the treasurer and the taxpayer have consented in writing to its assessment after such time, the tax may be assessed at any time prior to the expiration of the period agreed upon. The period so agreed upon may be extended by subsequent agreements in writing made before the expiration of the period previously agreed upon.

(b)

Notwithstanding the Code of Virginia, § 58.1-3903, the treasurer shall assess the local license tax omitted because of fraud or failure to apply for a license for the current license year and the six preceding years. (This applies to only 1997 and later; prior to 1997 is current plus three preceding years.)

(c)

The period for collecting any local license tax shall not expire prior to the period specified in the Code of Virginia, § 58.1-3940, two years after the date of assessment if the period for assessment has been extended pursuant to this subsection, two years after the final determination of an appeal for which collection has been stayed pursuant to this section, or two years after the final decision in a court application pursuant to the Code of Virginia, § 58.1-3984, or similar law for which collection has been stayed, whichever is later.

(Comp. Ords., § 11.4)

(Comp. Ords., § 11.4)