AN ACT TO REMOVE DESCRIBED PARCELS FROM THE CORPORATE LIMITS OF THE TOWN OF WRIGHTSVILLE BEACH AND TO ANNEX THOSE PARCELS TO THE CORPORATE LIMITS OF THE CITY OF WILMINGTON.
House committee substitute to the 2nd edition makes the following changes.
Amends GS 105-336 by removing the previous changes and amending the statute to instead provide that in case of failure to file a return when it is due, the penalty is (1) for individual income tax excluding income tax paid by a partnership or an S corporation, $100 if the net amount of the tax is greater or equal to zero. Defines the net amount of the tax or (2) for all other taxes and individual income taxes paid by a partnership or an S corporation, the penalty is equal to 5% of the amount of the tax if the the failure is for no more than one month, with an additional 5% for each additional month, not exceeding 25% in the aggregate (was, 25% in the aggregate or $5, whichever is greater). Adds a definition for amount of the tax.
Deletes changes to GS 105-236 and the repeal of SL 2012-79, Section 2.18.
Makes the act effective for penalties assessed on or after January 1, 2014 (was, October 1, 2013).
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