17 NCAC 06B .3204          NEGLIGENCE PENALTIES

(a)  When the federal accuracy penalty has been assessed for federal income tax purposes under Section 6662 of the Internal Revenue Code, the 10 percent negligence penalty will be assessed for state income tax purposes unless the 25 percent negligence penalty applies.

(b)  There is no minimum dollar amount of negligence penalty.

History Note:        Authority G.S. 105‑236(5); 105‑236(6); 105‑262;

Eff. April 1, 1978;

Amended Eff. April 1, 1999; June 1, 1993.