§ 105-241.9. Procedure for proposing an assessment. - North Carolina Statutes

§ 105‑241.9.  Procedurefor proposing an assessment.

(a)        Authority. – TheSecretary may propose an assessment against a taxpayer for tax due from thetaxpayer. The Secretary must base a proposed assessment on the best informationavailable. A proposed assessment of the Secretary is presumed to be correct.

(b)        Time Limit. – TheSecretary must propose an assessment within the statute of limitations forproposed assessments unless the taxpayer waives the limitations period inwriting. A taxpayer may waive the limitations period for either a definite oran indefinite time. If the taxpayer waives the limitations period, theSecretary may propose an assessment at any time within the time extended by thewaiver.

(c)        Notice. – TheSecretary must give a taxpayer written notice of a proposed assessment. Thenotice of a proposed assessment must contain the following information:

(1)        The basis for theproposed assessment. The statement of the basis for the proposed assessmentdoes not limit the Department from changing the basis.

(2)        The amount of tax,interest, and penalties included in the proposed assessment. The amount foreach of these must be stated separately.

(3)        The circumstancesunder which the proposed assessment will become final and collectible. (2007‑491, s. 1.)