Mo. Code Regs. tit. 12 § 10-41.040
Current through Register Vol. 49, No.12, June 17, 2024
Section 12 CSR 10-41.040 - Retribution of Bad ChecksPURPOSE: This rule clarifies how a taxpayer can make retribution of a bad check payment.
(1) Any person required to pay any tax who issues or passes a check or other similar sight order which is returned to the Department of Revenue because the account upon which the check or order was drawn was closed or did not have sufficient funds at the time of presentation for payment by the Department of Revenue to meet the face amount of the check or order must make restitution for the amount of the tax plus applicable penalties and interest in the form of a cashier's check, certified check or money order.(2) The penalty will be a minimum of ten dollars ($10) or five percent (5%) of the returned check or sight order, but will not exceed one hundred dollars ($100) as set out in section 139.235, RSMo.(3) Interest is calculated at a daily rate based on the annual interest rate set each year per section 32.065, RSMo.(4) This rule applies only if restitution is made to the Department of Revenue. If restitution is made to a local prosecuting attorney, it must be in a manner required by the prosecutor. AUTHORITY: section 139.235, RSMo 1994.* Original rule filed Dec. 15, 1987, effective April 11, 1988. Amended: Filed May 29, 1996, effective Nov. 30, 1996. *Original authority: 139.235, RSMo 1983.