Code of Virginia § 58.1-16. Overcollection of tax.
88 words·~1 min read·
/va/title-58-1/chapter-0/58-1-16A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Any person responsible for collecting any tax administered by the Department or the Division of Motor Vehicles who overcollects such tax and fails to account for and pay such overcollection to the appropriate state agency by the time his regular monthly or quarterly return is due shall be liable for the amount of such overcollection, and in addition a penalty of twenty-five percent of such overcollection. The Commissioner administering such tax may waive such penalty for good cause.
Code 1950, § 58-44.2; 1979, c. 133; 1984, c. 675.