HB1550
Taxation; rate of interest.
Summary
As Introduced. Taxation; rate
of interest. Provides that (i) the rate of interest on omitted taxes and assessments is equal to the Underpayment Rate established by the Internal Revenue Code and (ii) the rate of interest on refunds is equal to the Overpayment Rate for noncorporate taxpayers established by the Internal Revenue Code. Current ... (More) law provides that (a) the rate of interest on omitted taxes and assessments is equal to the Underpayment Rate plus two percent and (b) the rate of interest on refunds is equal to the Overpayment Rate for noncorporate taxpayers plus two percent. (Less)-
Bill History
- 10/29/2024 - House: Prefiled and ordered printed; Offered 01-08-2025 25100559D
- 10/29/2024 - House: Referred to Committee on Finance
- 01/24/2025 - House: Impact statement from TAX (HB1550)
- 01/25/2025 - House: Assigned Finance sub: Subcommittee #2
- 01/25/2025 - House: Placed on Finance Agenda
- 01/28/2025 - House: Subcommittee recommends laying on the table (5-Y 2-N)
- 02/04/2025 - House: Left in Finance
