Sec. 40.
(1) Penalties and interest provided for under sections 23 and 24 of 1941 PA 122, MCL 205.23 and 205.24, shall be calculated on the balance of the tax due.
(2) Interest on refunds shall accrue in accordance with section 30 of 1941 PA 122, MCL 205.30.
History: Add. 1993, Act 54, Imd. Eff. June 3, 1993 ;-- Am. 1998, Act 277, Imd. Eff. July 27, 1998 Popular Name: Inheritance Tax
Structure Michigan Compiled Laws
Act 188 of 1899 - Michigan Estate Tax Act (205.201 - 205.256)
188-1899-DEFINITIONS. - Definitions. (205.221...205.256)
Section 205.221 - Definitions.
Section 205.223 - Applicability of Sections.
Section 205.231 - Short Title.
Section 205.232 - Tax on Transfer of Estate of Residents and Nonresidents.
Section 205.233 - Tax on Generation-Skipping Transfer for Residents and Nonresidents.
Section 205.234 - Notification as Personal Representative; Waiver of Notice.
Section 205.235 - Filing Return; Waiver; Extension of Time for Filing.
Section 205.236 - Transfer Taxes; Payment; Extension; Interest and Penalties.
Section 205.239 - Assessment of Additional Tax Interest or Penalty.
Section 205.240 - Calculation of Penalties and Interest; Accrual of Interest on Refunds.
Section 205.242 - Apportionment of Tax.
Section 205.245 - Personal Representative; Rights and Powers.
Section 205.247 - Final Account.
Section 205.248 - Probate Court; Notice of Certain Information to Department.
Section 205.249 - Corporation as Personal Representative; Powers and Duties.
Section 205.250 - Certificate of Nonliability.
Section 205.251 - Discharge of Liability.
Section 205.252 - Disposition of Taxes and Fees.
Section 205.253 - Tax on Personal Property.