Provisional assessment allows provisional tax payment pending final valuation, subject to bond and final reassessment. Provisional assessment permits a taxable person unable to determine value or applicable rate to request provisional tax payment; the proper officer may allow provisional payment and must issue an order within a short statutory period. Allowance is conditional on a prescribed bond with surety or security to secure any difference between provisional and final tax. The proper officer must complete final assessment within a further statutory period subject to limited extensions, and the registrant bears interest on unpaid tax from the ordinary due date until payment while interest on refunds follows the Act's refund provisions.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Provisional assessment allows provisional tax payment pending final valuation, subject to bond and final reassessment.
Provisional assessment permits a taxable person unable to determine value or applicable rate to request provisional tax payment; the proper officer may allow provisional payment and must issue an order within a short statutory period. Allowance is conditional on a prescribed bond with surety or security to secure any difference between provisional and final tax. The proper officer must complete final assessment within a further statutory period subject to limited extensions, and the registrant bears interest on unpaid tax from the ordinary due date until payment while interest on refunds follows the Act's refund provisions.
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