Delinquent contributions; interest and penalties
Sec. 1. (a) Contributions unpaid on the date on which they are due
and payable, as prescribed by the commissioner, shall bear interest
at the rate of one percent (1%) per month or fraction thereof from
and after such date until payment, plus accrued interest, is received
by the department. The board may prescribe fair and reasonable
regulations pursuant to which such interest shall not accrue.
(b) If the failure to pay any part or all of the delinquent
contributions is due to negligence or intentional disregard of
authorized rules, regulations, or notices, but without intent to
defraud, there shall be added, as a penalty, ten percent (10%) of the
total amount of contributions unpaid, which penalty shall become
due and payable upon notice and demand by the commissioner.
(c) If the commissioner finds that the failure to pay any part or all
of delinquent contributions is due to fraud with intent to evade the
payment of contributions, there shall be added, as a penalty, fifty
percent (50%) of the total amount of delinquent contributions, which
penalty shall become due and payable upon notice and demand by
the commissioner.
(d) Interest and penalties collected pursuant to this section shall
be paid into the special employment and training services fund.
(Formerly: Acts 1947, c.208, s.3001.) As amended by P.L.228-1983,
SEC.5; P.L.18-1987, SEC.75; P.L.21-1995, SEC.110.
Last modified: May 27, 2006