Fiscal Note - SB 0458 - Requires Statement by Director of Revenue of Reason For Determination of Taxpayer Negligence at Time of Assessmen
L.R. NO. 1784-01
BILL NO. SB 458
SUBJECT: Taxation and Revenue-Income
TYPE: Original
DATE: March 14, 1997
FISCAL SUMMARY
ESTIMATED NET EFFECT ON STATE FUNDS
FUND AFFECTED FY 1998 FY 1999 FY 2000
Total Estimated
Net Effect on All
State Funds $0 $0 $0
ESTIMATED NET EFFECT ON FEDERAL FUNDS
FUND AFFECTED FY 1998 FY 1999 FY 2000
Total Estimated
Net Effect on All
Federal Funds $0 $0 $0
ESTIMATED NET EFFECT ON LOCAL FUNDS
FUND AFFECTED FY 1998 FY 1999 FY 2000
Local Government $0 $0 $0
FISCAL ANALYSIS
ASSUMPTION
Officials of the Department of Revenue (DOR) state this proposal would limit
how additions to tax may be assessed. It is estimated that this legislation
would require modifications to the income tax systems. The modifications
would be completed by existing staff/resources. The Division of Taxation
would need to review all accounts that would be subject to the additions to
tax. It is anticipated that this review can be handled by existing staff and
resources, however, if timely processing is affected by this review,
additional FTE may be requested through the normal budget process.
FISCAL IMPACT - State Government FY 1998 FY 1999 FY 2000
(10 Mo.)
0 0 0
FISCAL IMPACT - Local Government FY 1998 FY 1999 FY 2000
(10 Mo.)
0 0 0
FISCAL IMPACT - Small Business
No direct fiscal impact to small businesses would be expected as a result of
this proposal.
DESCRIPTION
This proposal requires the Director of Revenue to state the reason for a
finding of taxpayer negligence at the time an income tax assessment is
proposed. Rules and regulations of the Department of Revenue which are
inconsistent with the laws of the state may not be cited as the basis for the
penalty assessment.
This legislation is not federally mandated, would not duplicate any other
program and would not require additional capital improvements or rental
space.
SOURCES OF INFORMATION
Department of Revenue
This Fiscal Note is not an official copy and should not be quoted or cited.