Section 10-59-35 - Written requirements for audit--List of taxable items.
10-59-35. Written requirements for audit--List of taxable items. Any audit performed by the Department of Revenue and Regulation shall be in accordance with generally accepted auditing standards as published by the American Institute of Certified Public Accountants in their publications entitled Statements of Auditing Standards in effect on January 1, 1994. Prior to the issuance of a certificate of assessment, the department shall furnish the taxpayer with a proposed list of taxable items. Such list shall be in writing. The department shall hold a conference with the taxpayer to review the list of taxable items, and the taxpayer may in writing protest the inclusion of any of the proposed taxable items. Such protest may be included in any appeal of the department's certificate of assessment.
Source: SL 1994, ch 105; SL 2003, ch 272, § 82.