If any company shall fail, or refuse, to make and file any statements required by law or any other statement demanded by the State Tax Commission on or before the time required by Section 27-35-509, Mississippi Code of 1972, such company shall pay a penalty of up to ten percent (10%) on the tax as computed by the State Tax Commission, and in case of such failure, neglect or refusal, the commission shall make out an assessment against the company or companies, from the best information available.
Structure Mississippi Code
Title 27 - Taxation and Finance
Chapter 35 - Ad Valorem Taxes-Assessment
Article 5 - Assessment of Transportation Companies Operating or Furnishing Railroad Cars
§ 27-35-501. Assessment by Commissioner of Revenue
§ 27-35-505. Freight line company defined
§ 27-35-507. Equipment company defined
§ 27-35-509. Companies to make report to state tax commission; information to be given
§ 27-35-511. Tax commission may call for additional information
§ 27-35-513. Failure to report; penalty
§ 27-35-515. Exemptions; payments in lieu of taxes
§ 27-35-525. Railroads to file reports