                                 CODE OF VIRGINIA

OVERCOLLECTION OF TAX (§ 58.1-16)

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.

HISTORY: Code 1950, § 58-44.2; 1979, c. 133; 1984, c. 675.