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NC S314
Bill
Status
Introduced
3/15/2023
Primary Sponsor
Julie Mayfield
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AI Summary
- Replaces the existing penalty structure for returned tax payments with a flat $35.00 penalty, eliminating the previous formula of $25.00 or 10% of the amount (whichever is greater, up to $1,000 maximum)
- Applies to checks or electronic funds transfers returned for insufficient funds or nonexistent accounts
- Penalty does not apply if the tax collector finds the payer had sufficient funds available but failed to draw the check or initiate the transfer due to inadvertence
- Penalty is collected in the same manner as the underlying tax liability
- Effective July 1, 2023, and applies to all tax payments presented on or after that date
Legislative Description
Insufficient Fund Tax Payment Fee Mod
Debtor & Creditor; Fines & Penalties; Public; Revenue Dept.; Tax Returns; Taxation; Tax Collection
Last Action
Re-ref to Finance. If fav, re-ref to Rules and Operations of the Senate
4/20/2023
Committee Referrals
Finance4/20/2023
Rules and Operations of the Senate3/16/2023
Full Bill Text
No bill text available