287.745. Delinquent taxes, interest, rate--overpayment of taxes, credit. - Missouri Statutes

Delinquent taxes, interest, rate--overpayment of taxes, credit.

287.745. 1. If the tax imposed by sections 287.690,287.710, and 287.715 are not paid when due, the taxpayer shall berequired to pay, as part of such tax, interest thereon at therate of one and one-half percent per month for each month orfraction thereof delinquent. In the event the state prevails inany dispute concerning an assessment of tax which has not beenpaid by the taxpayer, interest shall be paid upon the amountfound due to the state at the rate of one and one-half percentper month for each month or fraction thereof delinquent.

2. In any legal contest concerning the amount of tax undersections 287.690, 287.710 and 287.715 for a calendar year, thequarterly installments for the following year shall continue tobe made based upon the amount assessed by the director of revenuefor the year in question. If after the end of any taxable year,the amount of the actual tax due is less than the total amount ofthe installments actually paid, the amount by which the amountpaid exceeds the amount due shall be credited against the tax forthe following year and deducted from the quarterly installmentotherwise due on June first.

(L. 1982 S.B. 470)