§ 44-15-5 - Filing of return and reports – Determination and collection of tax – Interest on delinquencies.
SECTION 44-15-5
§ 44-15-5 Filing of return and reports– Determination and collection of tax – Interest on delinquencies.– (a) Each banking institution or credit union, on or before June 15 in eachyear, shall file a return with the tax administrator in the form and containingthe information as he or she shall prescribe, and shall at the same time paythe tax imposed under this chapter.
(b) Upon the filing of the return, the tax administratorshall examine it and determine whether the correct amount of tax has been paidand shall assess and collect any additional tax found to be due.
(c) Any tax not paid when due shall bear interest at theannual rate provided by § 44-1-7 until paid.
(d) Each banking institution, or credit union, on or beforeJanuary 15 following the close of the taxable year, shall file a report withthe tax administrator in the form and containing the information as the taxadministrator shall prescribe.