Regulations of Connecticut State Agencies — Title 12
Conn. Agencies Regs § 12-728(a)-2
Penalties on deficiency assessments
# (a)
A penalty of 10% shall be imposed on the amount of any deficiency assessment in the case of negligence or intentional disregard of the provisions of the Income Tax Act or any rule or regulation adopted thereunder. In the case of fraud or intent to evade the provisions of said Act, rules or regulations, the penalty shall be 25% of the amount of the deficiency assessment.
# (b)
No person shall be subject to more than one penalty under subsection (a) of this section in relation to the same tax period. Thus, the 10% penalty and the 25% penalty may not be aggregated; however, nothing in this section shall be construed to prohibit the Commissioner from substituting one penalty for another prior to the issuance of a final determination pursuant to Section 12-729 of the general statutes, should the facts and circumstances warrant such a change.
# (c)
While this section pertains to Section 12-728(a) of the general statutes, for purposes of supplementary interpretation, as the phrase is used in Section 12-2 of the general statutes, the adoption of this section is authorized by Section 12-740(a) of the general statutes.
Amendment history
November 18, 1994
Source: official regulations index (title 12 publishes as one PDF)
Nearby sections (25 sections)
- 12-725-2 · Signing of Connecticut returns prepared by a person other
- 12-726(a)-1 · Informational return required from partnership
- 12-726(b)-1 · Informational return required from S corporation
- 12-727(a)-1 · Filing on magnetic media
- 12-727(a)-2 · Informational reporting by certain employers, payers or
- 12-727(b)-1 · Timely-amended federal income tax returns
- 12-727(b)-2 · Report of amended federal income or income tax…
- 12-727(b)-3 · Federal changes not binding
- 12-727(b)-4 · Final determination
- 12-727(b)-5 · Recomputation of Connecticut income tax
- 12-727(b)-6 · Repealed, March 8, 2006
- 12-728(a)-1 · Interest on deficiency assessments
- 12-728(a)-2 · Penalties on deficiency assessments
- 12-728(b)-1 · Notice of deficiency
- 12-731-1 · Mathematical errors
- 12-732(a)-1 · Claim for refund
- 12-732(a)-2 · Claim for refund by nonobligated spouse
- 12-732(b)-1 · Timely filing of claim for refund after the three-year…
- 12-733(a)-1 · Notice of proposed deficiency
- 12-733(f)-1 · Agreement extending time for assessing deficiency or…
- 12-734-1 · Liens
- 12-735(a)-1 · Penalties and interest
- 12-735(b)-1 · Commissioner's assessment on best information
- 12-735(d)-1 · Penalty for failure to file statement of payment to
- 12-736(a)-1 · Penalty on responsible person or persons