Amends GS 105-236(a)(3), providing that in the case of failure to file any return on the due date, the Secretary of Revenue must assesss a penalty equal to 5% of the net amount (was, of the amount) of the tax due if the failure is for no more than one month, with additional amounts due for additional months. Effective when the act becomes law.

Further amends GS 105-236(a)(3), as amended above and by Section 2.18(a) of SL 2012-79, making technical and conforming changes. Effective January 1, 2014, the same effective date as Section 2.18(a) of SL 2012-79.

Provides options for the Department of Revenue (Department) in cases where the Department has assessed a failure to file penalty under GS 105-236(a)(3) against a taxpayer based on a calculation that also included taxes that were timely paid.