CHAPTER 362

An Act to amend and reenact §§ 58-810 and 58-826 of the Code of Vir-
ginia, relating to license taxes on wholesale and retail merchants
respectively so as to require refunds of certain overpayments of such
tax.

[H 186]
Approved March 14, 1956

Be it enacted by the General Assembly of Virginia:

1. That §§ 58-310 and 58-326, of the Code of Virginia, be amended and
reenacted as follows: .

§ 58-310. Every underestimate under either of the two preceding
sections shall be subject to correction by the Department of Taxation,
whose duty it shall be to assess such wholesale merchant with such addi-
tional taxes as may be found to be due after the close of the license year
on the basis of the true purchases. Every overestimate under either of the
two preceding sections shall, upon application of the taxpayer for a cor-
rection thereof in the same manner as provided under §§ 58-1118 and
58-1119 in similar cases, be corrected by the Department of Taxation,
whose duty it shall be to refund to such wholesale merchant any such over-
payment as may be found, after the close of the license year, to have been
paid on the basis of thé true purchases.

§ 58-826. Every underestimate under either of the two preceding
sections shall be subject to correction by the Department of Taxation,
whose duty it shall be to assess such retail merchant with such additional
taxes as may be found to be due after the close of the license year on the
basis of the true sales. Every overestimate under either of the two pre-
ceding sections shall, wpon application of the taxpayer for a correction
thereof in the same manner as provided under §§ 58-1118 and 58-1119
in similar cases, be corrected by the Department of Taxation, whose
duty it shall be to refund to such retail merchant any such overpayment
as may be found, after the close of the license year, to have been paid on
the basis of the true sales.