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House Bill 1435

House Bill 1435

ARCHIVE (2011)

Latest Information

DIGEST OF HB1435 (Updated March 28, 2011 8:13 pm - DI 84)

Amended personal property tax returns. Extends the time for amending a personal property tax return from six months to one year from the date the original return was filed or the extension date, whichever is later. Provides that if an amended personal property tax return is filed between six months and one year after the filing date or the extension date, whichever is later, the taxpayer's refund or credit, if any, is reduced by 10%. Provides that if the credit to which a taxpayer is entitled as the result of filing an amended property tax return exceeds $25,000, a county auditor may carry the credit forward for not more than three succeeding years and apply the credit to the taxpayer's personal property taxes payable in those succeeding years, with any excess credit remaining after the third year refunded to the taxpayer.
Current Status:
In Committee - 2nd House
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