Caps delinquent tax interest rate at 12%. Limits tax audits to 3 years, 7 years for fraud, and 10 years maximum.

This bill amends the state tax code to set a maximum interest rate of 12% on all delinquent tax payments, effective January 1, 2027. It restricts the tax administrator's ability to audit taxpayers to three years from the date of filing, except in cases of fraud, where the audit period extends to seven years. The bill also prohibits any audit from occurring more than ten years from the date of filing or the required filing date, whichever is later. This change applies to all assessments, audits, and tax payments initiated after January 1, 2027.

Caps delinquent tax interest rate at 12%. Limits tax audits to 3 years, 7 years for fraud, and 10 years maximum.

This bill amends the state tax code to set a maximum interest rate of 12% on all delinquent tax payments, effective January 1, 2027. It restricts the tax administrator's ability to audit taxpayers to three years from the date of filing, except in cases of fraud, where the audit period extends to seven years. The bill also prohibits any audit from occurring more than ten years from the date of filing or the required filing date, whichever is later. This change applies to all assessments, audits, and tax payments initiated after January 1, 2027.