advertisement

Missouri to owe interest sooner on delayed tax refund

Thursday, May 13, 2010 | 5:30 p.m. CDT

JEFFERSON CITY — Missouri lawmakers have given the state an extra incentive to make sure tax refunds are paid in a timely manner.

A bill given final approval Thursday requires the state to pay interest on personal income tax refunds that aren't made within 90 days of the April 15 filing deadline. That's down from 120 days under existing law.

The legislation retains the 120-day refund period for corporate taxes.

Missouri was among several states that delayed paying tax refunds last year to boost cash flow. This year, Missouri borrowed from a pool of federal stimulus money to avoid tardy income tax refunds.


Like what you see here? Become a member.


Show Me the Errors (What's this?)

Report corrections or additions here. Leave comments below here.

You must be logged in to participate in the Show Me the Errors contest.


Comments

Leave a comment

Speak up and join the conversation! Make sure to follow the guidelines outlined below and register with our site. You must be logged in to comment. (Our full comment policy is here.)

  • Don't use obscene, profane or vulgar language.
  • Don't use language that makes personal attacks on fellow commenters or discriminates based on race, religion, gender or ethnicity.
  • Use your real first and last name when registering on the website. It will be published with every comment. (Read why we ask for that here.)
  • Don’t solicit or promote businesses.

We are not able to monitor every comment that comes through. If you see something objectionable, please click the "Report comment" link.

You must be logged in to comment.

Forget your password?

Don't have an account? Register here.

advertisements