22-4716. IMPOSITION OF TAX — LATE FEES. (1) From and after the first day of July 1996, there is hereby levied and imposed a tax of ten cents (10¢) per hundred weight on all oilseed sold or contracted in this state through commercial channels. The tax shall be due on or before the time when the oilseed is first sold or contracted in the commercial channels in this state and shall be paid at the times the commission may by rule prescribe, but not later than the 15th day of the month next succeeding the three (3) month period in which the oilseed is sold or contracted in commercial channels. The commission shall designate the quarters (three (3) month periods) for the purpose of collection of this tax.

(2) The tax shall be levied and assessed to the seller at the time of delivery for sale and shall be deducted by the first purchaser from the price paid to the seller at the time of sale, or in case of a lienholder who may possess the oilseed under his lien, the tax shall be deducted by the lienholder from the proceeds of the claim secured by the lien at the time the oilseed is pledged or mortgaged. The tax shall be deducted as provided in this section whether the oilseed is stored in this state or elsewhere. The commission may, however, permit any federal corporation, such as the commodity credit corporation, to waive its responsibility for the collection of the tax, provided the amount of the tax is one dollar ($1.00) or less.

(3) The tax constitutes a lien prior to all other liens and encumbrances upon the oilseed, except liens which are declared prior by operation of a statute of this state.

(4) Any person or firm who pays taxes to the commission at a date later than that prescribed in this section may be subject to assessment of a late payment penalty as set forth by rule of the commission. The penalty shall not exceed the rate of eighteen percent (18%) per annum on the amount due. In addition to the penalty, the commission may recover all costs and fees, including reasonable attorney’s fees, incurred in collecting the tax and penalty provided for in this section.

(5) A sale shall be exempt from the tax imposed in this section if a substantially similar tax is imposed by and paid to another state or foreign country and used for similar purposes with respect to the same oilseed. The commission shall, by rule, identify what other taxes are substantially similar and are used for similar purposes, and shall establish procedures for sellers to prove the payment of the other taxes.

History:

[22-4716, added 1996, ch. 216, sec. 1, p. 708; am. 2007, ch. 60, sec. 11, p. 147.]