LCO No. 1218 1 of 1
General Assembly Proposed Bill No. 113
January Session, 2019
LCO No. 1218
Referred to Committee on FINANCE, REVENUE AND
BONDING
Introduced by:
SEN. FORMICA, 20th Dist.
AN ACT WAIVING PENALTIES AND INTEREST INCURRED FOR
FAILURE TO PAY ESTIMATED QUARTERLY INCOME TAX AMOUNTS
IN EQUAL PORTIONS.
Be it enacted by the Senate and House of Representatives in General
Assembly convened:
That title 12 of the general statutes be amended to require the 1
Commissioner of Revenue Services to waive penalties and interest 2
incurred by a taxpayer for failure to pay estimated quarterly income 3
tax amounts in equal portions of twenty-five per cent of the required 4
annual payment. 5
Statement of Purpose:
To provide tax relief to taxpayers with income levels that vary during
the year.