Bill Title: Amends the Uniform Penalty and Interest Act. Provides that the penalty for failure to pay the tax shown due or required to be shown due on a return shall be 15% (instead of 20%) of any amount that is paid after the date the Department of Revenue has initiated an audit or investigation of the taxpayer. Provides that the penalty shall be abated if the taxpayer paid to the Department at least 95% of the total tax liability (including any additional liability resulting from the audit or investigation) prior to the initiation of the audit or investigation. Effective January 1, 2020.

Spectrum: Bipartisan Bill

Status: (Failed) 2021-01-13 - Session Sine Die [SB1349 Detail]

Text: Latest bill text (Engrossed) [HTML]

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Sponsors

Name	Type	Sponsorship	District	Financial	Encyclopedia	Biography
Senator Chuck Weaver [R]	Primary	Sponsored Bills	SD-037	FollowTheMoney	Ballotpedia	VoteSmart
Representative Mark Walker [D]	Primary	Sponsored Bills	HD-053	FollowTheMoney	Ballotpedia	VoteSmart

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