17 N.C. Admin. Code 6B.3206
Current through Register Vol. 39, No. 11, December 2, 2024
When an audit is based upon a federal audit report and the fraud penalty has been assessed for federal purposes, the 50 percent fraud penalty shall be assessed for State purposes. When the fraud penalty is assessed, no penalty for negligence shall be assessed with respect to the same deficiency; however, the penalty for failure to file and interest on the underpayment of estimated income tax shall be assessed if applicable with respect to the same deficiency.
17 N.C. Admin. Code 06B .3206
Eff. April 1, 1978;
Amended Eff. May 1, 2006; July 1, 1999; June 1, 1993;
Pursuant to G.S. 150B-21.3A, rule is necessary without substantive public interest Eff. July 26, 2015.
Eff. April 1, 1978;
Amended Eff. May 1, 2006; July 1, 1999; June 1, 1993.