S.B. 1012: COMMITTEE SUMMARY - TAXPAYERS: 24-HOUR NOTICE

Senate Bill 1012 (as introduced 3-12-98)

Committee: Finance

Date Completed: 3-25-98

CONTENT

The bill would amend the revenue Act to require the Department of Treasury to give a taxpayer at least 24 hours' notice before its authorized agents examined the taxpayer's books, records, and papers.

Currently, under the Act, if a taxpayer fails or refuses to make a return or payment of a tax, or if the Department has reason to believe that a return or payment does not supply sufficient information for an accurate determination of the amount of tax due, the Department may obtain information on which to base assessment of the tax. The Department's authorized agents may examine the taxpayer's books, records, and papers and audit the taxpayer's accounts or any other records pertaining to the tax.

MCL 205.21 - Legislative Analyst: G. Towne

FISCAL IMPACT

Currently there are no data to indicate whether this provision would result in net loss or net gain for the State. There would be an indeterminate fiscal impact on the State. There would be no fiscal impact on local government.

- Fiscal Analyst: E. Limbs

S9798\S1012SA

This analysis was prepared by nonpartisan Senate staff for use by the Senate in its deliberations and does not constitute an official statement of legislative intent.