Taxation; rate of interest.
Summary
Taxation; rate of interest. Provides that(i) the rate of interest on omitted taxes and assessments is equalto the Underpayment Rate established by the Internal Revenue Codeand (ii) the rate of interest on refunds is equal to the OverpaymentRate for noncorporate taxpayers established by the Internal RevenueCode. Current law provides that (a) the rate of interest on omittedtaxes and assessments is equal to the Underpayment Rate plus twopercent and (b) the rate of interest on refunds is equal to the OverpaymentRate for noncorporate taxpayers plus two percent.
Bill status
in committee
1 of 4 stages cleared
Introduction
Dec 2023
Committee Review
Floor Vote
Governor
Introduced Dec 28, 2023
Last action Feb 13, 2024
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
5
Key actions
0
Committee
2
Feb 2, 2024
Committee
Assigned Finance sub: Subcommittee #1
lower
Dec 28, 2023
Committee
Referred to Committee on Finance
lower
1 primary · 0 co-sponsors
Sponsors
Role
Legislator
Party
State
District
P
Joe McNamara
RRepublican
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