In making an assessment or in allowing a claim for refund, the commissioner may, in the commissioner's discretion, offset overpayments of a tax for a taxable period or periods against underpayments of the same tax for another taxable period or periods. If the commissioner exercises the commissioner's discretion under this section, the interest on such underpayments and overpayments shall be computed on the basis of one per cent per month or fraction thereof but only to the extent that, for the same period of time, interest is payable and otherwise allowable on equivalent underpayments and overpayments. If interest is not otherwise allowable on overpayments of the tax, interest shall be treated as allowable for purposes of this section on equivalent underpayments and overpayments. Nothing in this section shall be construed to require the payment of interest where overpayments of the tax exceed underpayments of the tax.
(P.A. 99-48, S. 5, 10.)
History: P.A. 99-48 effective January 1, 2000.
Structure Connecticut General Statutes
Chapter 202 - Collection of State Taxes
Section 12-35a. - Lien on personal property as security related to delinquent state taxes.
Section 12-35f. - Offset of tax refunds.
Section 12-35g. - Tax amnesty program for unpaid tax for periods ending November 30, 2008.
Section 12-35i. - Tax amnesty program for unpaid taxes for periods ending November 30, 2012.
Section 12-35j. - Facilitation of issuance of tax warrants.
Section 12-36. - Jeopardy collection of taxes due state.
Section 12-37. - State suspense tax book.
Section 12-38. - Interest on taxes, fees and assessments due from municipality to the state.
Section 12-39b. - Records of cancellation or revision of tax liability.
Section 12-39bb. - Records of department. Reproductions of records.
Section 12-39cc. - Data match system with financial institutions.
Section 12-39f. - Refund of state taxes. Limit on interest added or awarded.
Section 12-39k. - Granting of extensions requested by persons other than the taxpayer.
Section 12-39m. - Posting of bond by taxpayer objecting to an assessment. Regulations.
Section 12-39n. - Taxpayer's Bill of Rights.
Section 12-39o. - Issuance or renewal of license when taxes owed or returns outstanding.
Section 12-39r. - Payment of state taxes by credit card, charge card or debit card.
Section 12-39t. - Suspension of statute of limitations for filing a claim for refund of taxes.
Section 12-39u. - Offsetting of overpayments and underpayments of taxes.
Section 12-39v. - Refund to person of tax collected from customer.
Section 12-39z. - Rounding of dollar amounts in returns, statements or other documents.