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2023 SESSION

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HB 1685 Business local; taxes, penalties.

Introduced by: Karen S. Greenhalgh | all patrons    ...    notes | add to my profiles | history

SUMMARY AS PASSED HOUSE:

Local business taxes; penalties. Requires license application forms to include the due date for the application and the amount of the penalty charged for late application filing, the underpayment of estimated tax, and the late payment of tax.  The bill requires the assessing official, upon assessing any such penalty or any interest, to notify the affected taxpayer of the amount of such penalty, any interest assessed, and the total amount of tax owed. This bill is a recommendation of the Small Business Commission.

SUMMARY AS INTRODUCED:

Local business taxes; penalties. Caps the maximum amount of penalties that may be assessed on unpaid license taxes or tangible personal property taxes owed by a business at five percent of the amount due. The bill provides the same cap for penalties assessed for failing to apply for a license or file a return on time for such taxes. The bill requires the assessing official, upon assessing any such penalty, to notify the affected taxpayer of the amount of such penalty, any interest assessed, and the total amount of tax owed. This bill is a recommendation of the Small Business Commission.