15-31-503. Deficiency assessment -- notice -- penalty and interest. (1) If the department determines that the amount of tax due is greater than the amount disclosed by the return, it shall mail to the taxpayer a notice, pursuant to 15-1-211, of the additional tax proposed to be assessed. The taxpayer may seek review of the determination pursuant to 15-1-211.
(2) Penalty and interest on any deficiency assessment must be calculated from the date specified in 15-31-502 for payment of the tax. Penalty and interest must be added to the deficiency as provided in 15-1-216. A certificate by the department of the mailing of the notice specified in subsection (1) is prima facie evidence of the computation and levy of the deficiency in tax and of the giving of the notice.
History: En. Sec. 1, Ch. 186, L. 1963; amd. Sec. 68, Ch. 405, L. 1973; R.C.M. 1947, 84-1508.1(a); amd. Sec. 10, Ch. 811, L. 1991; amd. Sec. 14, Ch. 594, L. 2005.
Structure Montana Code Annotated
Chapter 31. Corporate Income Tax or Alternative Corporate Income Tax
Part 5. Administration and Collection
15-31-501. Department rules -- conformance with Internal Revenue Code
15-31-502. Assessment and payment of tax -- estimated tax payment -- amount of required installments
15-31-503. Deficiency assessment -- notice -- penalty and interest
15-31-504. Estimated tax on failure to file
15-31-505. Subpoenas -- investigation of income, and shifting
15-31-506. Copy of federal return required -- report of amended federal return
15-31-509. Periods of limitation
15-31-510. Estimated payments -- tax returns -- penalty and interest
15-31-511. Confidentiality of tax records
15-31-512. through 15-31-520 reserved
15-31-522. When immediate payment demanded
15-31-523. Suspension or forfeiture on delinquency
15-31-524. Reviver of corporation after suspension or forfeiture
15-31-525. Levy upon and sale of property
15-31-526. Action by attorney general
15-31-528. through 15-31-530 reserved
15-31-531. Credit for overpayment -- interest on overpayment
15-31-532. Application for refund -- appeal from denial
15-31-533. through 15-31-540 reserved
15-31-541. Site of failure to act -- evidence
15-31-543. Forfeiture of right to engage in business -- penalties
15-31-544. Action on false or fraudulent return
15-31-546. through 15-31-550 reserved
15-31-551. Certified copies of corporate income tax returns to taxpayer -- fee
15-31-553. Fees to reimburse department for costs -- deposit in general fund