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MS HB95
Bill
Status
3/6/2012
Primary Sponsor
Bobby Moak
Click for details
AI Summary
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Reduces the period for Department of Revenue to refund income tax overpayments from six months to three months after the final date for filing returns before a taxpayer may petition the Commissioner of Revenue for a hearing.
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Allows taxpayers to treat failure to refund within the three-month period as a denial of a refund claim and appeal in the manner provided by Section 27-77-5.
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Maintains the existing 90-day period after which one percent (1%) monthly interest accrues on overpayments not refunded within that timeframe.
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Takes effect July 1, 2012.
Legislative Description
Income tax; revise time within which Department of Revenue must refund overpayment before taxpayer may petition for hearing.
Last Action
Died In Committee
3/6/2012