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MS HB450
Bill
Status
Failed
2/2/2010
Primary Sponsor
Mark Formby
Click for details
AI Summary
- Amends Section 27-65-37 of Mississippi Code to limit sales tax liability when Department of Revenue audits find underpayment of taxes
- Taxpayer is not liable for additional taxes owed before the current audit date if the two immediately preceding audits found the taxpayer in compliance with tax collection requirements
- Applies only if the practices or circumstances found deficient in the current audit were previously determined to be compliant in prior audits
- Does not apply if relevant tax statutes changed since the most recent previous audit in a way that would create the additional tax liability
- Takes effect July 1, 2010
Legislative Description
Sales tax, liability; limit liability if previous Department of Revenue audits determined taxpayer to be in compliance with law.
Last Action
Died In Committee
2/2/2010
Full Bill Text
No bill text available