23VAC10-500-330: Motor vehicle dealers

Any locality imposing a license tax on motor vehicle dealers may, by ordinance, require any dealer who separately states the amount of local license tax applicable to a sale and collects it from the customer to treat such taxes collected as held in trust for the locality and require that all such sums collected be paid over to the locality quarterly during the license year. Gross receipts on which the tax has been separately stated, collected and paid over shall be excluded from other taxable gross receipts when the annual license is obtained. During the three-year period following overassessments on the part of the motor vehicle dealers, the locality will refund the amounts due to the purchasers who produce verification that the overpayments were made.