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AR HB1756

Bill

Official Source

Status

Introduced

3/6/2015

Primary Sponsor

Jim Dotson

Click for details

Origin

House of Representatives

90th General Assembly (2015 Regular)

AI Summary

  • Amends Arkansas Code § 26-18-406(a) to add a new bond option for taxpayers appealing state tax assessments and determinations
  • Allows taxpayers to file a bond equal to 25% of the tax deficiency (in double the amount) within 30 days of final assessment and file suit within 30 days thereafter to stay the director's determination
  • Requires taxpayers posting bond to file suit within 30 days, faithfully prosecute the suit, and pay any deficiency and court costs found by the court
  • Forfeiture of bond occurs if taxpayer fails to file suit, diligently prosecute, or pay deficiencies and court costs
  • Imposes 10% penalty on tax deficiency if court finds the taxpayer's suit lacks merit
  • Maintains existing options for taxpayers to pay full amount due or file suit for taxes paid before final assessment issuance

Legislative Description

To Allow A Taxpayer To Appeal A Final Determination Or Assessment Of State Taxes By Paying A Bond Equal To A Portion Of The Delinquent Taxes Due.

Last Action

WITHDRAWN BY AUTHOR

4/1/2015

Committee Referrals

Revenue and Taxation3/9/2015

Full Bill Text

No bill text available