2015 Indiana Code TITLE 6. TAXATION ARTICLE 5.5. TAXATION OF FINANCIAL INSTITUTIONS CHAPTER 7. PENALTIES
Download as PDF
IC 6-5.5-7
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 Level 6 felony.
As added by P.L.347-1989(ss), SEC.1. Amended by P.L.158-2013,
SEC.90.
IC 6-5.5-7-4
Failure to permit examination of books, records, or property;
refusal to testify or produce records
Indiana Code 2015
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 Level 6 felony.
As added by P.L.347-1989(ss), SEC.1. Amended by P.L.158-2013,
SEC.91.
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.
Indiana Code 2015
Disclaimer: These codes may not be the most recent version. Indiana may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
