Bill Title: Amends the Uniform Penalty and Interest Act. Provides that the penalty for failure to pay the tax shown due or required to be shown due on a return shall be 15% (instead of 20%) of any amount that is paid after the date the Department has initiated an audit or investigation of the taxpayer. Provides that the penalty shall be rescinded if the taxpayer paid to the Department at least 95% of the final liability resulting from an audit or investigation prior to the initiation of the audit or investigation

Sponsorship: Moderate Partisan Bill (Democrat 26-5)

Status: (Passed) 2016-12-20 - Public Act . . . . . . . . . 99-0915 [SB2921 Detail]

Text: Latest bill text (Chaptered) [HTML]

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