Ala. Admin. Code r. 810-14-1-.34 - Interest On Underpayment Of Tax
(1) Interest shall be added to any tax or
other amount due the Department which is not paid by the due date.
Interest on any delinquency shall be charged from the due date of the tax, except for the following:
(a) interest on delinquent license taxes
levied under Code of Ala. 1975, Chapter 12 of Title
40, shall be charged from the delinquent date as provided in Code
of Ala. 1975, subsection (e) of Section
40-12-10;
(b) interest on delinquent license tax and
registration fees levied on motor vehicles shall be charged beginning after the
period allowed for registration or renewal; and
(c) interest on the freight lines and
equipment companies tax levied in Code of Ala. 1975,
Section 40-21-52, shall be charged from
the delinquent date thereof.
(2) Interest shall be computed based on the
underpayment rate established by the Secretary of the Treasury from time to
time under the authority of
26 USC Section
6621.
(3) In determining the last date prescribed
for payment, any extension of time granted for payment of tax or any other
amount due shall be disregarded. The granting of an extension of time for
filing a return does not relieve the taxpayer from liability for the payment of
interest thereon during the period of the extension.
Author: George Mingledorff
Notes
Statutory Authority: Act 92-186.
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