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Current Status Bill Number:View additional legislative information at the LPITS web site.258 Type of Legislation:General Bill GB Introducing Body:Senate Introduced Date:19990112 Primary Sponsor:McConnell All Sponsors:McConnell, Elliott Drafted Document Number:l:\council\bills\nbd\11055mm99.doc Residing Body:Senate Current Committee:Finance Committee 06 SF Subject:Revenue Department, Taxation, Property; payment of penalty and interest may be waived by taxpayer when History Body Date Action Description Com Leg Involved ______ ________ ______________________________________ _______ ____________ Senate 19990112 Introduced, read first time, 06 SF referred to Committee Senate 19981216 Prefiled, referred to Committee 06 SF Versions of This Bill
TO AMEND SECTION 12-58-185, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO EXTENSION OF TIME FOR PAYMENT BY AN INNOCENT TAXPAYER, SO AS TO PROVIDE FOR THE WAIVER OF A PENALTY OR PENALTY AND INTEREST INCURRED BY AN INNOCENT TAXPAYER FOR FAILURE TIMELY TO PAY AN AMOUNT DUE IF THE FAILURE ARISES WITHIN EIGHTEEN MONTHS OF A NOVEL INTERPRETATION OR APPLICATION OF AN EXISTING LAW OR FROM AN OPINION RENDERED ON AN EXISTING LAW WHICH WAS PREVIOUSLY SILENT ON THE APPLICATION OF A PENALTY OR INTEREST.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 12-58-185 of the 1976 Code, as added by Act 386 of 1998, is amended to read:
"Section 12-58-185. (A) The department may extend the time for payment of an amount due it for a period not to exceed eighteen months from the date fixed for the payment and, in exceptional cases, for a further period not to exceed twelve months. An extension under this section may be granted only where it is shown to the satisfaction of the department that the payment of the amount due it upon the date originally fixed for the payment will result in undue hardship to the taxpayer.
(B) The department must waive the payment of a penalty or a penalty and interest incurred as a result of failure timely to pay an amount due it if the failure arose within eighteen months out of a novel interpretation or application of existing law or from an opinion rendered on an existing law which was previously silent on the application of a penalty or interest.
(B)(C) An extension or waiver of penalty and interest may not be granted under pursuant to this section for an amount due the department if the taxpayer acted negligently, disregarded rules or regulations intentionally, or committed fraud with intent to evade tax."
SECTION 2. This act takes effect upon approval by the Governor.
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