COLUMBIA, S.C. - People who owe taxes and don't pay on time face an extra 20 percent penalty paid to the Revenue Department under a bill that cleared the Senate Finance Committee on Tuesday.
The bill, which already has cleared the House, calls for the surcharge after a tax payment is 120 days overdue. The Finance Committee changed that to say the extra money is owed 120 days after appeals are exhausted on tax disputes.
The Revenue Department would give the money collected to its South Carolina Business One Stop, a program that helps people start businesses and handle tax matters.
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Tax bill: http://www.scstatehouse.net/sess115_2003-2004/bills/3065.htm
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