§ 77. Overpayment. 1. General.--The director of finance, within the
applicable period of limitations, may credit an overpayment of tax and
interest on such overpayment against any liability in respect of any tax
imposed by any of the named parts of this title or on the taxpayer who
made the overpayment, and the balance shall be refunded out of the
proceeds of the tax.

2. Credits against estimated tax.--The director of finance may
prescribe regulations providing for the crediting against the estimated
tax under part two or part three of this title for any taxable year of
the amount determined to be an overpayment of tax under any such part
for a preceding taxable year. If any overpayment of tax is so claimed as
a credit against estimated tax for the succeeding taxable year, such
amount shall be considered as a payment of the tax under part two or
part three of this title for the succeeding taxable year (whether or not
claimed as a credit in the declaration of estimated tax for such
succeeding taxable year), and no claim for credit or refund of such
overpayment shall be allowed for the taxable year for which the
overpayment arises.

3. Rule where no tax liability.--If there is no tax liability for a
period in respect of which an amount is paid as tax, such amount shall
be considered an overpayment.

4. Assessment and collection after limitation period.--If any amount
of tax is assessed or collected after the expiration of the period of
limitations properly applicable thereto, such amount shall be considered
an overpayment.

5. Assignment of overpayment.--A credit for an overpayment of tax
under any of the named parts may be assigned by the taxpayer to a
corporation liable to pay taxes under any of the named parts, and the
assignee of the whole or any part of such credit, on filing such
assignment with the director of finance, shall thereupon be entitled to
credit upon the books of the director of finance for the amount thereof
on its current account for taxes, in the same manner and to the same
effect as though the credit had originally been allowed in its favor.

6. Notwithstanding any other provision of law to the contrary, the
procedures for the enforcement of money judgments shall not apply to the
department of finance, or to any officer or employee of such department,
as a garnishee, with respect to any amount of money to be refunded or
credited to a taxpayer under this title.