§ 4-17.1-7. Late filing penalties.

(A)

Persons failing to file a personal property tax return as required by Section 4-17.1-6 of this Article shall incur a penalty of ten percent (10%) of the taxes assessable on such personal property for which a return is required or Ten Dollars ($10.00), whichever is greater; provided, however, that the penalty shall in no case exceed the amount of the tax assessable. Said penalty shall be added to the amount of taxes due.

(B)

An extension in time, not to exceed ninety (90) days, for filing tangible business personal property, machinery and tools may be granted by the Director of the Department of Tax Administration whenever good cause exists. Application for such extension of time must be made prior to the regular May 1 filing deadline. Requests received after May 1 shall not be granted unless it is documented that the delay was in no way the fault of the taxpayer. Failure to file returns within the extended time will cause the taxpayer to be treated the same as if no extension had been granted.

(C)

The Director of the Department of Tax Administration may waive the penalty for failure to file a return if such failure was not the fault of the taxpayer or was the fault of the Director of the Department of Tax Administration as the case may be. The burden of proof in all cases is with the applicant for waiver. (57-93-4; 37-96-4.)