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227Type of Legislation: General Bill GBIntroducing Body: SenateIntroduced Date: 20010130Primary Sponsor: McConnellAll Sponsors: McConnellDrafted Document Number: l:\council\bills\gjk\20154mm01.docResiding Body: SenateCurrent Committee: Finance Committee 06 SFSubject: Revenue Department may waive penalty, interest when innocent taxpayer unaware of new tax law within certain time periodHistory Body Date Action Description Com Leg Involved ______ ________ ______________________________________ _______ ____________ Senate 20010130 Introduced, read first time, 06 SF referred to Committee 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 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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