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NC S96

Bill

Official Source

Status

Introduced

2/13/2025

Primary Sponsor

Julie Mayfield

Click for details

Origin

Senate

2025-2026 Session

AI Summary

  • Sets a flat $35.00 penalty for tax payments returned due to insufficient funds or nonexistent accounts
  • Eliminates the current variable penalty structure of $25.00 or 10% of the payment amount (whichever is greater), which could reach up to $1,000
  • Penalty exemption remains for taxpayers who had sufficient funds in a North Carolina financial institution but inadvertently drew from the wrong account
  • Effective July 1, 2025, applying to checks or electronic funds transfers presented on or after that date

Legislative Description

Modify Insufficient Funds Tax Payment Fee

Public

Last Action

Ref To Com On Rules and Operations of the Senate

2/17/2025

Committee Referrals

Rules and Operations of the Senate2/17/2025

Full Bill Text

No bill text available