Bill > SB1377

This bill modifies Missouri state tax law regarding erroneous tax deficiency notices by establishing two key provisions. First, the bill maintains the existing rule that a tax deficiency notice becomes a final assessment 60 days after mailing (or 150 days for taxpayers outside the United States), except for amounts that the taxpayer has officially protested with the director of revenue. Second, and most importantly, the bill creates a new provision that allows taxpayers to receive a full refund if they have paid a tax deficiency that is later determined to be erroneous, regardless of whether they initially filed a timely protest. This means that even if a taxpayer has already paid an incorrect tax bill, they will be entitled to recover the full amount of the deficiency, including any associated interest, additions to tax, or penalties. The refund will be processed according to existing Missouri tax refund procedures outlined in sections 143.781 to 143.841.

Labor and Employment

https://www.senate.mo.gov/26info/BTS_Web/Bill.aspx?SessionType=R&BillID=478