US Laws, Codes, Statutes & Cases

                                  TITLE  63
                             REVENUE AND TAXATION
                                  CHAPTER 30
                                  INCOME TAX
    63-3034.  PAYMENT OF TAX. (a) The entire tax imposed by this chapter shall
be paid to the state tax commission on or before the date, including any
extensions of the due date, upon which the return must be filed with the state
tax commission, provided that payments made before the termination of the year
for which taxes are paid shall be (1) based upon the taxpayer's estimate of
total state tax liability or (2) when the estimated gross income of any such
taxpayer is more than six hundred dollars ($600) and the state tax commission
deems it necessary to insure compliance with this chapter, the commission may
require any persons subject to this chapter to place with the commission such
security as the commission may determine.
    (b)  The amount of the security shall be fixed by the tax commission but
shall not be greater than twice the amount of tax estimated to be due, or
twenty thousand dollars ($20,000), whichever is less. The amount of the
security may be increased or decreased by the tax commission at any time
within the limitations set forth in this subsection.
    (c)  If the tax commission finds that a taxpayer of whom security is
required fails to furnish the security, the tax commission may issue a
jeopardy assessment as prescribed by section 63-3065, Idaho Code, and take
appropriate action to effect collection of the required security.
    (d)  The tax commission may sell the security at public auction or, in the
case of security in the form of bearer bonds issued by the United States or
the state of Idaho which have a prevailing market price, at a private sale at
a price not lower than the prevailing market price if it becomes necessary to
make such sale in order to recover any tax, interest or penalties due on any
amount required to be collected. Notice of the sale must be given to the
person who deposited the security at least ten (10) days before the sale; such
notice may be given personally or by mail addressed to the person at the
address furnished to the tax commission and as it appears in the records of
the tax commission. Upon such sale, any surplus above the amounts due shall be
returned to the person who placed the security.