27-7-345 - Civil penalties for failure to file return or deficiency in payment of tax.
§ 27-7-345. Civil penalties for failure to file return or deficiency in payment of tax.
Any taxpayer who either fails to file a required return within the time prescribed, or who fails to remit the tax or remits less than the amount due under the return, shall be liable for the following penalties:
(a) If the failure to file a return within the time prescribed, or the failure to pay the tax or any part thereof, was not the result of any fraudulent intent, the taxpayer shall be liable for a penalty in the amount of ten percent (10%) for the first offense, fifteen percent (15%) for the second offense, twenty-five percent (25%) for the third offense, and not less than twenty-five percent (25%) up to a maximum of fifty percent (50%) for any subsequent offense, of the total amount of deficiency or delinquency in the tax, plus interest on the amount of tax due at the rate of one percent (1%) per month on the amount not paid, from the date such tax was due until paid, and such amount shall be added to the liability of the taxpayer unless such failure was due to reasonable cause.
(b) If the failure to file the return or to remit the tax or any part thereof was the result of a fraudulent intent to evade the payment to the commissioner, the taxpayer, in addition to the criminal penalty provided in Section 27-7-347, shall be liable for a penalty of fifty percent (50%) of the tax due, plus interest on the amount of tax due at the rate of one percent (1%) per month on the amount not paid.
(c) If the failure to file an information return or to furnish a required statement within the time prescribed was not the result of any fraudulent intent, the taxpayer shall be liable for a penalty of Five Dollars ($5.00) per statement, with a minimum of Two Hundred Fifty Dollars ($250.00) up to a maximum of Ten Thousand Dollars ($10,000.00) per reporting account.
(d) If the failure to file an information return or to furnish a required statement was the result of intentional disregard of filing requirements, the taxpayer shall be liable for a penalty of Twenty-five Dollars ($25.00) per statement, with a minimum of Two Hundred Fifty Dollars ($250.00) up to a maximum of Fifty Thousand Dollars ($50,000.00) per reporting account.
Sources: Codes, 1942, § 9220-66; Laws, 1968, ch. 580, § 6; Laws, 1982, ch. 489, § 7; Laws, 1989, ch. 485, § 9; Laws, 1995, ch. 346, § 5, eff from and after January 1, 1995.