§ 44-14-19.2 Limitations on assessment.– (a) General. Except as provided in this section the amount of the excisetax shall be assessed within three (3) years after the return was filed(whether or not the return was filed on or after the prescribed date). For thispurpose, a tax return filed before the due date shall be considered as filed onthe due date.
(1) The tax may be assessed at any time if:
(i) No return is filed.
(ii) A false or fraudulent return is filed with intent toavoid tax.
(2) Where, before the expiration of the prescribed time inthis section for the assessment of tax, or before the time as extended underthis section, both the tax administrator and the taxpayer have consented, inwriting, to its assessment after that time. The tax may be assessed at any timeprior to the expiration of the agreed upon period.
(3) An erroneous refund shall be considered to create anunderpayment of tax on the date made. An assessment of a deficiency arising outof an erroneous refund may be made at any time within three (3) yearsthereafter, or at any time if it appears that any part of the refund wasinduced by fraud or misrepresentation of a material fact.
(c) Notwithstanding the foregoing provisions of this section,the tax may be assessed at any time within six (6) years after the return wasfiled if a taxpayer omits from its income an amount properly includable in thereturn which is in excess of twenty-five percent (25%) of the amount of incomestated in the return. For this purpose there shall not be taken into accountany amount which is omitted in the return if the amount is disclosed in thereturn, or in a statement attached to the return, in a manner adequate toapprise the tax administrator of the nature and amount of the item.
(d) The running of the period of limitations on assessment orcollection of the tax or other amount (or of a transferee's liability) shall,after the mailing of a notice of deficiency, be suspended for any period duringwhich the tax administrator is prohibited from making the assessment or fromcollecting by levy, and for sixty (60) days after this.
(e) No period of limitations specified in any other law shallapply to the assessment or collection of taxes due under this chapter.
§ 44-14-19.2 Limitations on assessment.– (a) General. Except as provided in this section the amount of the excisetax shall be assessed within three (3) years after the return was filed(whether or not the return was filed on or after the prescribed date). For thispurpose, a tax return filed before the due date shall be considered as filed onthe due date.
(1) The tax may be assessed at any time if:
(i) No return is filed.
(ii) A false or fraudulent return is filed with intent toavoid tax.
(2) Where, before the expiration of the prescribed time inthis section for the assessment of tax, or before the time as extended underthis section, both the tax administrator and the taxpayer have consented, inwriting, to its assessment after that time. The tax may be assessed at any timeprior to the expiration of the agreed upon period.
(3) An erroneous refund shall be considered to create anunderpayment of tax on the date made. An assessment of a deficiency arising outof an erroneous refund may be made at any time within three (3) yearsthereafter, or at any time if it appears that any part of the refund wasinduced by fraud or misrepresentation of a material fact.
(c) Notwithstanding the foregoing provisions of this section,the tax may be assessed at any time within six (6) years after the return wasfiled if a taxpayer omits from its income an amount properly includable in thereturn which is in excess of twenty-five percent (25%) of the amount of incomestated in the return. For this purpose there shall not be taken into accountany amount which is omitted in the return if the amount is disclosed in thereturn, or in a statement attached to the return, in a manner adequate toapprise the tax administrator of the nature and amount of the item.
(d) The running of the period of limitations on assessment orcollection of the tax or other amount (or of a transferee's liability) shall,after the mailing of a notice of deficiency, be suspended for any period duringwhich the tax administrator is prohibited from making the assessment or fromcollecting by levy, and for sixty (60) days after this.
(e) No period of limitations specified in any other law shallapply to the assessment or collection of taxes due under this chapter.
§ 44-14-19.2 Limitations on assessment.– (a) General. Except as provided in this section the amount of the excisetax shall be assessed within three (3) years after the return was filed(whether or not the return was filed on or after the prescribed date). For thispurpose, a tax return filed before the due date shall be considered as filed onthe due date.
(1) The tax may be assessed at any time if:
(i) No return is filed.
(ii) A false or fraudulent return is filed with intent toavoid tax.
(2) Where, before the expiration of the prescribed time inthis section for the assessment of tax, or before the time as extended underthis section, both the tax administrator and the taxpayer have consented, inwriting, to its assessment after that time. The tax may be assessed at any timeprior to the expiration of the agreed upon period.
(3) An erroneous refund shall be considered to create anunderpayment of tax on the date made. An assessment of a deficiency arising outof an erroneous refund may be made at any time within three (3) yearsthereafter, or at any time if it appears that any part of the refund wasinduced by fraud or misrepresentation of a material fact.
(c) Notwithstanding the foregoing provisions of this section,the tax may be assessed at any time within six (6) years after the return wasfiled if a taxpayer omits from its income an amount properly includable in thereturn which is in excess of twenty-five percent (25%) of the amount of incomestated in the return. For this purpose there shall not be taken into accountany amount which is omitted in the return if the amount is disclosed in thereturn, or in a statement attached to the return, in a manner adequate toapprise the tax administrator of the nature and amount of the item.
(d) The running of the period of limitations on assessment orcollection of the tax or other amount (or of a transferee's liability) shall,after the mailing of a notice of deficiency, be suspended for any period duringwhich the tax administrator is prohibited from making the assessment or fromcollecting by levy, and for sixty (60) days after this.
(e) No period of limitations specified in any other law shallapply to the assessment or collection of taxes due under this chapter.
