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MO HB1408
Bill
Status
7/8/2010
Primary Sponsor
Stanley Cox
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AI Summary
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Changes the deadline for paying interest on overpayments of income taxes imposed by sections 143.011 and 143.041 from 120 days to 90 days from the latest of: the tax filing deadline, the date the return was filed, or the date the taxpayer files for a credit or refund with complete documentation.
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Modifies section 143.811 to allow no interest on overpayments if the refund is issued within 90 days for taxes under sections 143.011 and 143.041, compared to the previous four-month period for other income taxes.
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Maintains existing provisions regarding interest rates, withholding tax treatment, and carryback rules for net operating losses and tax credits.
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Applies different timelines based on tax type: 90 days for sections 143.011 and 143.041 taxes versus 120 days for other tax types under section 32.069.
Legislative Description
Changes the time period before interest is paid on an overpayment of income tax from four months to 90 days after the last date to file a return, including an extension, or the date the return was filed
Last Action
Delivered to Secretary of State (G)
7/8/2010