VA DMV Announces Change to 1% NVTA Fee Collection & Calculation, Effective March 1
[I]Calculation Now to Include Processing Fee[/I]The Virginia Department of Motor Vehicles erred when it provided guidance for the collection of the new 1% registration fee applicable to the Northern Virginia Transportation Authority.
DMV has reinterpreted the guidelines and decided to change the calculation of the fee to apply it to the sale price and the processing fee. This change will take effect on March 1, 2008. The on-line dealer system with DMV will begin calculating the 1% fee on the sale price plus the processing fee on that date. Through February 29th, dealers should continue collecting the 1% as originally instructed.
Dealers are advised to take care that their systems are updated so that transactions processed as of March 1 are assessed the correct amount. See examples of current and revised instructions on page 4.
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