90-1551 - Corporation Franchise

 

BEFORE THE UTAH STATE TAX COMMISSION

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In Re:                                                                           )

                                                                                    :           INFORMAL DECISION

XXXXX                                                                                  )

                                                                                    :           Appeal No. 90-1551

                                                                                    :

                                                                                    :           Account No. XXXXX

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STATEMENT OF CASE

            This matter came before the Utah State Tax Commission pursuant to the Administrative Procedures Act and the rules of the Utah State Tax Commission for an informal hearing on XXXXX.  Paul F. Iwasaki, Presiding Officer, heard the matter for and on behalf of the Commission.  Present and representing the Petitioner was XXXXX.

FINDINGS

            When the Petitioner filed its XXXXX corporate income tax return, it underpaid its liability because of an error on the part of its accountant.

            When figuring out the amount of taxes paid for XXXXX, the accountant did not realize some of the taxes paid during the XXXXX year were payments for an amount due for the previous year.  That led to an underpayment of the XXXXX tax by approximately $$$$$.

            As a result of the underpayment of tax, a penalty in the amount of $$$$$ was assessed.

DECISION AND ORDER

            The Tax Commission finds sufficient cause does not exist to waive the penalty associated with the XXXXX income tax year.  It is so ordered.

            DATED this 23rd day of November, 1990.