Section 60.2-526 - General provisionsA. For each calendar year commencing after December 31, 1981, the tax rate of each employer, whose experience rating account has been chargeable with benefits during the most recent twelve completed calendar month period ending on June 30 of the calendar year immediately preceding the calendar year for which a tax rate is being determined, shall be computed as provided in this chapter.B. Notwithstanding the provisions of subsection A of this section, the tax rate of each employer newly subject to this title, including any nonprofit organization which has elected to become liable for payments in lieu of taxes under the provisions of subsection B of § 60.2-501 and thereafter terminates such election, shall be 2.5 percent, except that at such time as it is eligible for computation as hereinafter provided, the tax rate shall become the computed rate. The Commission shall notify each such employer of his tax rate for such calendar year not later than December 31 immediately preceding such year, but the failure of any such employer to receive such notice shall not relieve him from liability for such tax.Code 1950, § 60-67; 1952, c. 184; 1954, c. 203; 1956, c. 440; 1960, c. 136; 1968, c. 738, § 60.1-79; 1971, Ex. Sess., c. 235; 1974, c. 466; 1980, c. 406; 1981, c. 606; 1982, c. 370; 1983, c. 16; 1986, c. 480; 1995, c. 323; 1997, c. 298; 1999, c. 313.Amended by Acts 1999, § c.313.Amended by Acts 1997, § c. 298.Amended by Acts 1995, § c. 323.Amended by Acts 1986, § c. 480.Amended by Acts 1983, § c. 16.Amended by Acts 1982, § c. 370.Amended by Acts 1981, § c. 606.Amended by Acts 1980, § c. 406.Amended by Acts 1974, § c. 466.Amended by Acts 1971, § Ex. Sess., c. 235.Amended by Acts 1968, § c. 738, §60.1-79.Amended by Acts 1960, § c. 136.Amended by Acts 1956, § c. 440.Amended by Acts 1954, § c. 203.Amended by Acts 1952, § c. 184.