A domestic or foreign corporation that fails or refuses to file a biennial report within the time set by this chapter is subject to a penalty of 10 percent of the amount of the corporation tax assessed against it for the period beginning January 1 of the year for which the report should have been filed. The commissioner shall assess the penalty at the time of the assessment of the corporation tax. If the amount of the corporation tax as originally assessed is adjusted in accordance with this chapter, the amount of the penalty shall also be adjusted to 10 percent of the amount of the adjusted corporation tax. The amount of the corporation tax and the amount of the penalty shall be separately stated in a notice to the corporation.
Section: Previous 10.06.805 10.06.808 10.06.811 10.06.813 10.06.815 10.06.818 10.06.820 10.06.823 10.06.825 10.06.828 10.06.830 10.06.833 10.06.835 10.06.838 10.06.840 NextLast modified: November 15, 2016