§2420. Interest on delinquent tax; extension of time

NOTE: Repealed by Acts 2008, No. 822, §1, eff. Jan. 1, 2010.

A. Taxes hereby levied under Part I and Part II of this Chapter shall bear interest at the rate of one-half of one percent per month, beginning nine months after the death of the decedent, and one percent per month, beginning twelve months after the death of the decedent, saving to any heir, legatee, or donee the right to stop the running of interest against him by paying the amount of his tax with accrued interest, estimated or ascertained, or by tendering the same to the secretary in the manner prescribed by the general law. In cases in which the settlement of the succession is bona fide contested or when it is shown to the satisfaction of the secretary that the beneficiary was ignorant of the inheritance, the interest shall be remitted.

B. Provided further that in all cases in which reasonable cause therefor is established to the satisfaction of the district judge having jurisdiction of the succession, an extension of time may be granted upon application of the succession representative, heir or universal legatee of such decedent within which inheritance taxes hereunder may be fixed and paid, without interest or penalty; provided further that in all cases in which it shall be shown that it is required that succession of the decedent file a federal estate tax return, such fact shall ipso facto be deemed a reasonable cause for an extension not to exceed fifteen months after the date of death of the decedent within which to fix and pay any Louisiana inheritance tax.

C. The secretary may accept an extension of time to file a United States Estate Tax Return for the same decedent as an extension of time to file a Louisiana inheritance tax return.

D. Notwithstanding any provision of law to the contrary, no penalty or interest shall apply or be assessed when the succession is opened no later than the last day of the ninth month following the death of the decedent.

E. Notwithstanding any provision of law to the contrary, no penalty or interest shall be assessed to any direct descendant or ascendant in any case where the value of the inheritance, legacy, donation, or gift made in contemplation of death is less than one hundred thousand dollars. In any case where the value of the inheritance, legacy, donation, or gift made in contemplation of death exceeds one hundred thousand dollars, the penalty or interest assessed to a direct descendant or ascendant shall be assessed only on the tax due on that portion of the inheritance, legacy, donation, or gift made in contemplation of death which is in excess of one hundred thousand dollars.

Amended by Acts 1952, No. 21, §1; Acts 1972, No. 513, §1; Acts 1973, No. 202, §1; Acts 1985, No. 104, §1; Acts 1997, No. 271, §1; (Applicable to all estates of persons dying after December 31, 1997); Acts 1997, No. 818, §1, eff. July 1, 1998; Acts 1997, No. 1454, §1, eff. July 1, 1998; Acts 2008, No. 822, §1, eff. Jan. 1, 2010.

NOTE: SEE ACTS 1985, NO. 104, §2.