Ala. Admin. Code r. 810-14-1-.34

Current through Register Vol. 43, No. 1, October 31, 2024

Section 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

Ala. Admin. Code r. 810-14-1-.34

Filed with LRS May 20, 1993. Certification filed with LRS July 20, 1993, effective August 24, 1993.

Statutory Authority: Act 92-186.