2012 Indiana Code
TITLE 6. TAXATION
ARTICLE 5.5. TAXATION OF FINANCIAL INSTITUTIONS
CHAPTER 7. PENALTIES
Chapter 7. Penalties
IC 6-5.5-7-1
Failure to make payment; underpayments
Sec. 1. (a) The penalty prescribed by IC 6-8.1-10-2.1(b) shall be assessed by the department on a taxpayer who fails to make payments as required in IC 6-5.5-6. However, no penalty shall be assessed for a quarterly payment if the payment equals or exceeds:
(1) twenty percent (20%) of the final tax liability for the taxable year; or
(2) twenty-five percent (25%) of the final tax liability for the taxpayer's previous taxable year.
(b) The penalty for an underpayment of tax on a quarterly return shall only be assessed on the difference between the actual amount paid by the taxpayer on the quarterly return and the lesser of:
(1) twenty percent (20%) of the taxpayer's final tax liability for the taxable year; or
(2) twenty-five percent (25%) of the taxpayer's final tax liability for the taxpayer's previous taxable year.
As added by P.L.347-1989(ss), SEC.1. Amended by P.L.1-1991, SEC.55.
IC 6-5.5-7-2
Violation of article; violation of preparing or filing return
Sec. 2. A taxpayer who:
(1) violates IC 6-5.5; or
(2) fails to comply with the request of the department made under IC 6-5.5-6;
commits a Class C infraction.
As added by P.L.347-1989(ss), SEC.1.
IC 6-5.5-7-3
False entries in books; multiple books; failure to make return; false returns
Sec. 3. A taxpayer who:
(1) makes false entries in the taxpayer's books;
(2) keeps more than one (1) set of books;
(3) fails to make a return required to be made under this chapter; or
(4) makes a false return or false statement in a return;
with intent to defraud the state or to evade the payment of a tax imposed under this article commits a Class D felony.
As added by P.L.347-1989(ss), SEC.1.
IC 6-5.5-7-4
Failure to permit examination of books, records, or property; refusal to testify or produce records
Sec. 4. A person who knowingly:
(1) fails to permit the examination of any book, paper, account,
record, or other data by the department or its authorized agents;
(2) fails to permit the inspection or appraisal of any property by the department or its authorized agents; or
(3) refuses to offer testimony or produce a record;
required under this article commits a Class D felony.
As added by P.L.347-1989(ss), SEC.1.
IC 6-5.5-7-5
Concurrent jurisdiction of attorney general
Sec. 5. The attorney general has concurrent jurisdiction with prosecuting attorneys in instituting and prosecuting actions under sections 2 through 4 of this chapter.
As added by P.L.347-1989(ss), SEC.1.
