MS SB2785

Authorizes the Commissioner of Revenue to reduce a taxpayer's tax liability based on additional documentation or information provided after the Board of Tax Appeals has issued an order.

Grants the Commissioner 30 days to issue a determination on the additional information, during which the 60-day appeal period to chancery court is tolled (paused).

Requires the Commissioner to provide written notice indicating that the 60-day appeal period has restarted if a determination is issued in less than 30 days, along with the expiration date of the appeal period.

Allows the agency to collect the reduced amount determined by the Commissioner or issue a refund if overpayment is determined, if no appeal to chancery court is filed after the 60-day period expires.

Effective date: July 1, 2020.