Laws, Regulations & Annotations

Business Taxes Law Guide – Revision 2013
 

Sales and Use Tax Annotations


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I

320.0000 INTEREST AND PENALTIES—Regulation 1703

Annotation 320.0050

320.0050 Denial of Credit Interest. A consistent practice of making additions of tax to quarterly sales and use tax returns may be classified as intentional overpayments even though the additional amounts were intended to correct underpayments made for prior periods. Sales and use tax returns are required to record the liability for the reporting period. They may not be used as a means of making payments of an existing deficiency for a prior period. 6/2/78.