Virginia Code 58.1-16: Overcollection of tax.
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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.
Terms Used In Virginia Code 58.1-16
- Department: means the Department of Taxation. See Virginia Code 58.1-1
- Person: includes any individual, corporation, partnership, association, cooperative, limited liability company, trust, joint venture, government, political subdivision, or any other legal or commercial entity and any successor, representative, agent, agency, or instrumentality thereof. See Virginia Code 1-230
- state agency: means the same as that term is defined in § Virginia Code 1-206
Code 1950, § 58-44.2; 1979, c. 133; 1984, c. 675.