Chap. 443.—An ACT to amend and reenact Section 108, as amended, of the Tax
Code of Virginia relating to the payment of inheritance taxes, penalties and
interest. {H 505]

Approved April 1, 1948

Be it enacted by the General Assembly of Virginia:

1, That section one hundred eight, as amended, of the Tax Code
of Virginia be amended and reenacted, the amended section being as
ollows:

Section 108. Payment of tax; penalty and interest—Taxes imposed
by the provisions of this chapter shall be payable into the State Treasury
at the expiration of one year after the death of the decedent; provided,
however, that the Department of Taxation may, upon the application of
the personal representative of the decedent, extend the time of payment
of such taxes so that the same shall be payable at the expiration of
fifteen months after the death of the decedent, if the Department be of the
opinion that the gross value of the decedent’s estate will be of such
amount as to require the filing of a Federal Estate Tax return. In all
cases in which there shall be a grant, devise, descent or bequest to
take effect in possession or come into actual enjoyment after the expira-
tion of one or more life estates or a term of years, the taxes thereon
shall be payable by the executors, administrators or trustees in office
when such right of possession accrues, and no distribution shall be made
of the estate until such taxes have been paid, or, if there is no such
executor, administrator or trustee, by the person or persons so entitled
thereto, and at the expiration of one year after the date when the right
of possession accrues to the person or persons so entitled. If the taxes
are not paid when due, one per centum interest for each month or por-
tion of a month from the date when the same were due until paid, shall
be added to the amount of said taxes and collected as a part of the same;
provided, however, that when the estate of any decedent is being
administered in a suit, or when for any other cause, the amount of such
tax is not determinable until more than eleven months after the death of
such decedent, then such penalty shall not be added until thirty days after
such tax is determinable. Upon the payment of the tax the State Treas-
urer shall receipt to the person or persons paying the same, and the
Comptroller shall certify the fact of such payment to the Department of
Taxation; and such Department, upon the basis of such certification,
shall certify such fact to the proper clerk or clerks, who shall record
the same in the book in which the accounts of personal representatives
are recorded. If no tax is due, upon the ascertainment of that fact a
certificate thereof shall be forwarded by such Department to the person
receiving the property and a copy shall be sent to the proper clerk or
clerks, who shall record the same in the book in which accounts of
personal representatives are recorded.