Loading chat...
MS HB1497
Bill
Status
2/5/2013
Primary Sponsor
Bobby Moak
Click for details
AI Summary
-
Reduces the period for the Department of Revenue to refund an overpayment of income tax from six months to three months after the final date for filing returns.
-
Allows taxpayers to treat the failure to refund within the three-month period as a denial of a refund claim and appeal to the Board of Review of the Department of Revenue.
-
Corrects terminology in the statute by replacing "commission" with "department" in references to the Department of Revenue's authority to determine refunds due.
-
Maintains the existing 90-day interest provision, which allows one percent (1%) monthly interest on overpayments not refunded within 90 days after the prescribed due date or filing date.
-
Takes effect July 1, 2013.
Legislative Description
Income tax; revise time within which Department of Revenue must refund overpayment of tax before taxpayer may appeal.
Last Action
Died In Committee
2/5/2013