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42.23.605    PENALTY AND INTEREST

(1) Whenever a deficiency assessment is made by the department pursuant to 15-31-503 , MCA, based on the original return, the tax becomes final as provided in 15-31-503 , MCA, and the payment for the deficiency is due within 30 days as stated on the notice of deficiency assessment. If the payment is not made by the end of this period, the taxpayer is subject to imposition of a penalty as provided in 15-1-216 , MCA.

(2) Amended returns will not change the calculation of the late file penalties on the original return for tax years beginning before January 1, 2001.

(3) Late pay penalties will be adjusted based on the corrected amount of tax due, which results from an amended return, adjustment from an audit, or correction to the original return.

(4) In the case of a net operating loss carry-back, no change will be made to the underpayment interest penalty on the original return.

(5) A penalty assessment may be appealed by the taxpayer under the provisions of ARM 42.2.613 through 42.2.621.

History: 15-31-501, MCA; IMP, 15-1-216, 15-1-222, 15-31-502, 15-31-503, 15-31-510, MCA; NEW, 1982 MAR p. 104, Eff. 1/29/82; AMD, 1992 MAR p. 1764, Eff. 8/14/92; AMD, 2001 MAR p. 2046, Eff. 10/12/01; AMD, 2002 MAR p. 1096, Eff. 4/12/02; AMD, 2006 MAR p. 85, Eff. 1/13/06.

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