CHAPTER 472

AN ACT to amend and reenact § 58-721 of the Code of 1950, relat.
ing to penalties for failure of motor fucl dealers to report or
pay tares promptly.

[S 278]

Approved April 7, 1950

Be it enacted by the General Assembly of Virginia:

1. That § 58-721 of the Code of 1950 be amended and reenacted
as follows:

§ 58-721. Penalty for failure to report or pay taxes promptly.
—When any dealer fails to submit its monthly report to the Com-
missioner by the last day of the following month or when such
dealer fails to submit the data required by § 58-713 in such monthly
report, or when such dealer fails to pay to the Commissioner the
amount of taxes hereby imposed when the same are payable, there
shall be automatically added thereto a penalty equal to * ten per
centum of the tax, to be paid by such dealer. Thereafter the tax
and penalty shall bear interest at the rate of one per centum per
month until the tax is paid.