Bill Text: MS HB1497 | 2013 | Regular Session | Introduced
Bill Title: Income tax; revise time within which Department of Revenue must refund overpayment of tax before taxpayer may appeal.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Failed) 2013-02-05 - Died In Committee [HB1497 Detail]
Download: Mississippi-2013-HB1497-Introduced.html
MISSISSIPPI LEGISLATURE
2013 Regular Session
To: Ways and Means
By: Representative Moak
House Bill 1497
AN ACT TO AMEND SECTION 27-7-315, MISSISSIPPI CODE OF 1972, TO REDUCE THE PERIOD OF TIME FROM SIX MONTHS TO THREE MONTHS AFTER THE FINAL DATE FOR FILING RETURNS WITHIN WHICH THE DEPARTMENT OF REVENUE MUST REFUND AN OVERPAYMENT OF INCOME TAX BEFORE A TAXPAYER MAY FILE AN APPEAL WITH THE BOARD OF REVIEW OF THE DEPARTMENT OF REVENUE ON THE CLAIM FOR REFUND; AND FOR RELATED PURPOSES.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:
SECTION 1. Section 27-7-315, Mississippi Code of 1972, is amended as follows:
27-7-315. (1) If any
overpayment of any tax, interest or penalty levied or provided for by Article 1
of this chapter, or in this article, is not refunded to the taxpayer as
provided in Section 27-7-313 within * * * three (3) months after
the final date for filing returns as prescribed by law, the taxpayer may treat
the failure to refund as a denial of a refund claim and appeal in the manner
provided for in Section 27-77-5.
(2) If any overpayment of
tax as reflected on a return or amended return filed, and verified by the
commissioner or determined to be due by the commissioner or * * * department when no
overpayment is shown on a return or amended return, is not refunded within
ninety (90) days after the prescribed due date of the return, the date the
return is filed, or the date the commissioner or * * * department determines
a refund as being due when no overpayment is shown on a return or amended
return, whichever is later, interest at the rate of one percent (1%) per month
shall be allowed on the overpayment computed for the period after expiration of
the ninety-day period provided in this subsection to the date of payment.
SECTION 2. This act shall take effect and be in force from and after July 1, 2013.
