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The Commission may grant a reasonable extension of time for payment of estimated tax or any installment, or for filing any declaration on condition that the taxpayer shall pay interest on the amount involved at the rate of three-fourths of one percent per month or fraction thereof from the time the payment was due until the time of payment. Whenever the taxpayer, without having been granted an extension, fails to make payment of estimated tax or any installment, or file any declaration, it shall pay interest on the amount involved at the rate prescribed in § 58.1-15 from the time payment was due until the time of payment. Code 1950, § 58-514.6; 1968, c. 15; 1972, c. 152; 1984, c. 675.
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