59-7-206 - Offsets against tax.
59-7-206. Offsets against tax.
There shall be offset against the tax imposed by this part for any period the amount ofany tax imposed on the taxpayer under Section 59-7-104 for the same period. In the event thattaxes, interest, and penalties have been or shall be assessed against, paid by, or collected from ataxpayer under Section 59-7-201, which assessment, payment, or collection should have beenmade under Section 59-7-104, such taxes, interest, and penalties shall be considered as havingbeen assessed, paid, or collected under Section 59-7-104 as of the dates they were made.
There shall be offset against the tax imposed by this part for any period the amount ofany tax imposed on the taxpayer under Section 59-7-104 for the same period. In the event thattaxes, interest, and penalties have been or shall be assessed against, paid by, or collected from ataxpayer under Section 59-7-201, which assessment, payment, or collection should have beenmade under Section 59-7-104, such taxes, interest, and penalties shall be considered as havingbeen assessed, paid, or collected under Section 59-7-104 as of the dates they were made.
Amended by Chapter 169, 1993 General Session