§ 65. Penalty
When an annual report for any year is not given to the Agency of Transportation and the tax due is not paid on or before the next April 15, there shall be added to the tax an additional amount equal to five percent or $10.00, whichever is greater, if the return is made and tax paid within 15 days after becoming due, and 25 percent of the tax or $50.00, whichever is greater, if the return is not made and tax paid within 15 days after becoming due. When a company that has failed to file the return or has filed an incorrect or insufficient return and has been notified by the Agency of its delinquency, refuses or neglects within 20 days after notice to file a proper return, or files a fraudulent return, the Agency shall determine the tax due according to its best information and belief and shall increase the amount of the tax so determined by 50 percent or $20.00, whichever is greater. No assessment shall be made under this section unless made within four years from the date on which a correct return should have been filed, but the limitation of four years to the assessment of the tax or additional tax shall not apply to the assessment of additional taxes upon fraudulent returns. The Agency may waive the penalties mentioned in this section if it is satisfied that the default was for any justifiable cause, and it may extend the time for filing returns or paying the tax, not to exceed four months. (Added 1985, No. 222 (Adj. Sess.), § 1.)
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