288.150. Unpaid contributions, interest rate due, abatement during extensions--exceptions. - Missouri Statutes

Unpaid contributions, interest rate due, abatement duringextensions--exceptions.

288.150. Contributions unpaid for any quarter which become due andpayable after the last day of the calendar quarter in which this actbecame* effective (August 28, 1994) shall bear interest at the rateestablished by the Internal Revenue Code pursuant to Title 26, Section6621(b), in effect on the date on which such contribution became due,provided, however, that such interest shall abate for any period of anyextension of time granted by the division pursuant to the provisions ofsection 288.090. Such interest shall accrue for each month, or part of amonth, after such date until payment is received by the division, exceptthat:

(1) An employing unit not previously subject to this law, whichbecomes an employer and does not refuse to make the reports required underthis law shall not be liable for such interest until thirty days after ithas been notified that the division has made a determination that it is anemployer subject to this law; or

(2) An employing unit previously subject to this law, which acquiressubstantially all of the business of an employer under section 288.110 andwhose contribution rate increases after the accounts were combined and doesnot refuse to make the reports required under this law shall not be liablefor such interest until thirty days after it has been notified that thedivision has made a determination that it is a successor employer underthis chapter.

(L. 1951 p. 564, A.L. 1982 H.B. 1521, A.L. 1994 S.B. 559, A.L. 1998 S.B. 922)

Effective 1-1-99

*Word "becomes" appears in original rolls.