AN ACT RELATING TO TAXATION -- STATE TAX OFFICIALS

Summary

The bill sets a 12% maximum interest rate on any overdue state tax starting in 2027 and makes that rate the floor as well. It also shortens the time the tax administrator can audit returns—three years for normal filings and seven years for fraud—while prohibiting collection actions beyond ten years. These changes aim to provide clearer, more predictable tax costs and protect taxpayers from long‑running audits.

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