Sec. 12-594. Interest added to deficiency assessments. Tax due as a lien on property of the company.
Sec. 12-594. Interest added to deficiency assessments. Tax due as a lien on
property of the company. (a) To any taxes which are assessed under section 12-593,
there shall be added interest at the rate of one per cent per month or fraction thereof
which elapses from the date when the original tax became due and payable. The amount
of such tax and any penalty or interest in respect to such tax, due and unpaid, may be
collected under the provisions of section 12-35. The warrant therein provided for shall
be signed by the Commissioner of Revenue Services or his authorized agent. The amount
of any such tax, penalty and interest shall be a lien, from the last day of the month next
preceding the due date of such tax until discharged by payment, against all real estate
of the company within the state and a certificate of such lien signed by said commissioner
may be filed for record in the office of the clerk of any town in which such real estate
is situated and such lien shall take precedence over any other encumbrance, provided
no such lien shall be effective as against any bona fide purchaser or qualified encumbrancer of any interest in any such property. When any tax with respect to which a lien has
been recorded under the provisions of this section has been satisfied, said commissioner,
upon request of any interested party, shall issue a certificate discharging such lien, which
certificate shall be recorded in the same office in which the lien was recorded. Any
action for the foreclosure of such lien shall be brought by the Attorney General in the
name of the state in the superior court for the judicial district in which such property
subject to such lien is situated, or, if such property is located in two or more judicial
districts, in the superior court for any one such judicial district and the court may limit
the time for redemption or order the sale of such property or pass such other or further
decree as it judges equitable.
(b) The tax imposed under section 12-587 shall be payable to the Commissioner of
Revenue Services. All funds received by said commissioner in accordance with said
tax shall be recorded with the Comptroller and shall be deposited daily with the State
Treasurer.
(P.A. 80-71, S. 8, 30; P.A. 81-411, S. 41, 42; Nov. Sp. Sess. P.A. 81-4, S. 6, 32; P.A. 82-325, S. 3, 7; P.A. 85-501, S.
7; P.A. 88-314, S. 52, 54; P.A. 95-26, S. 31, 52.)
History: P.A. 80-71 effective July 1, 1980, and applicable to calendar quarters commencing on or after that date; P.A.
81-411 increased interest on taxes not paid when due from 1% to 1.25% per month, effective July 1, 1981, and applicable
to taxes becoming due on or after that date; Nov. Sp. Sess. P.A. 81-4 raised interest rate in Subsec. (a) from 1.25% to
1.66% per month, effective February 1, 1982, and applicable to taxes payable to state which first become due on or after
that date; P.A. 82-325 revised effective date of Nov. Sp. Sess. P.A. 81-4 but without affecting this section; P.A. 85-501
provided that lien shall be effective from the last day of the month next preceding the due date of the tax rather than from
due date itself and that such lien shall not be effective against a qualified encumbrancer as defined in Sec. 12-35b, deleting
reference to purchasers or encumbrancers to whom property is transferred between due date of tax and date of recording
lien; P.A. 88-314 amended Subsec. (a) so that the provisions therein are not applicable to the tax due in accordance with
Sec. 12-587 but are applicable to deficiency assessments under Sec. 12-593, effective July 1, 1988, and applicable to any
tax which first becomes due and payable on or after said date, to any return or report due on or after said date, or in the
case of any ongoing obligation imposed in accordance with said act, to the tax period next beginning on or after said date;
P.A. 95-26 amended Subsec. (a) to lower interest rate from 1.66% to 1%, effective July 1, 1995, and applicable to taxes
due and owing on or after July 1, 1995, whether or not those taxes first became due before said date.