58.1-1717 - Undervaluation of estate; collection of additional tax; minimum additional tax or refund payable. - Virginia Statutes

§ 58.1-1717. Undervaluation of estate; collection of additional tax; minimumadditional tax or refund payable.

The clerk of the court wherein the probate or administration tax has beenpaid by an estate shall thereafter compare the total value of the probateestate as shown on the probate tax return with the total value shown on theinventory of such estate to determine whether the estate has been undervaluedfor tax purposes. If such clerk finds that such estate has been undervalued,he shall thereupon collect such additional tax as may be due. In the event ofan overpayment of such tax, the personal representative may apply to theDepartment of Taxation and, if a local probate tax was paid, to the treasurerof the city or county for a refund. No additional tax shall be payable or norefund made if the payment or refund due would be less than twenty-fivedollars.

(Code 1950, § 58-70; 1973, c. 446; 1978, c. 838; 1983, c. 140; 1984, c. 675;1989, c. 223.)