HB1771

Missouri HB1771 establishes notice requirements for tax credit denials before penalties are issued.

Missouri HB1771 amends Chapter 143 of the Revised Statutes of Missouri by adding a new section. This section stipulates that if a tax credit limit denial is the sole cause of a taxpayer owing an income tax balance due for a tax year, the taxpayer shall not be held liable for any addition to tax, penalty, or interest on that amount, provided the balance is paid or department of revenue-approved payment arrangements are made within sixty days from the initial notice of the tax credit denial.