Description: Income tax; revise when interest begins to run, rate of interest on payment of additional tax where taxpayer has made underpayment.
Bill Text: [Introduced]
History of Actions:
|1||01/10 (H) Referred To Ways and Means|
|2||02/04 (H) Died In Committee|
|Effective date||July 1, 2003|
|Deadline||General Bill/Constitutional Amendment|
|Vote type required||Three/Fifths|
Principal Author: Cameron
Code Sections: A 027-0007-0051, A 027-0007-0053
Title: AN ACT TO AMEND SECTIONS 27-7-51 AND 27-7-53, MISSISSIPPI CODE OF 1972, TO REVISE WHEN INTEREST BEGINS TO RUN ON A PAYMENT OF ADDITIONAL INCOME TAX OWED BY A TAXPAYER WHEN THE STATE TAX COMMISSION OR INTERNAL REVENUE SERVICE DETERMINES THAT A TAXPAYER HAS MADE AN UNDERPAYMENT OF INCOME TAX; TO REVISE THE AMOUNT OF INTEREST AND PENALTY THAT MAY BE ASSESSED ON SUCH ADDITIONAL TAX; AND FOR RELATED PURPOSES.
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