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2024 SESSION
HB 89 Taxation; rate of interest.
Introduced by: Joseph P. McNamara | all patrons ... notes | add to my profiles
SUMMARY AS INTRODUCED:
Taxation; rate of interest. Provides that (i) the rate of interest on omitted taxes and assessments is equal to the Underpayment Rate established by the Internal Revenue Code and (ii) the rate of interest on refunds is equal to the Overpayment Rate for noncorporate taxpayers established by the Internal Revenue Code. Current law provides that (a) the rate of interest on omitted taxes and assessments is equal to the Underpayment Rate plus two percent and (b) the rate of interest on refunds is equal to the Overpayment Rate for noncorporate taxpayers plus two percent.
FULL TEXT
HISTORY
- 12/28/23 House: Prefiled and ordered printed; offered 01/10/24 24101578D
- 12/28/23 House: Referred to Committee on Finance
- 02/02/24 House: Assigned Finance sub: Subcommittee #1
- 02/13/24 House: Left in Finance