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Senate moves to reduce disproportionate tax penalties; bill passed to third-reading calendar
Summary
Senate Bill 33 would lower excessive tax penalties (replacing flat $50 or 10% charges with a 2% per month penalty up to 10%), a change advocates said would fix inequities produced by the prior tax code. The Senate approved moving the bill to third reading after debate about fiscal notes.
Senate Bill 33, aimed at reducing inequitable tax penalties for late filings and aligning some penalty rules with federal practice, cleared procedural steps on the Senate floor and was placed on the third-reading calendar.
Sponsor Senator Barton said the existing law (a flat $50 or 10% penalty, whichever is greater) produced unfair…
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