Unlawful failure to pay tax, file return, keep records, supply information, or exhibit books; penalty. Unlawful assisting, procuring, counseling, or advising in filing income tax return; penalty. Unlawful disregard of rules and regulations of commissioner in preparing returns; penalty. Evasion of income tax, penalty, interest, or other amount in excess of $3,000.00. License or registration extensions for National Guard members and reservists on active duty. 48-7-25. 48-7-26. 48-7-27. 48-7-27. 48-7-27.1. Article 2 48-7-28. 48-7-28.1. Imposition, Rate, Computation, Exemptions, and Credits 48-7-20. 48-7-20.1. 48-7-20.2. 48-7-21. 48-7-21.1. 48-7-22. 48-7-28.2. Individual tax rates; credit for withholding and other payments; applicability to estates and trusts. Tax refund credit for qualified taxpayers filing in the 2021 tax year. Tax refund credit for qualified taxpayers filing in the 2022 tax year. Taxation of corporations. Compensation paid by taxpayer disallowed as business expense. Taxation of fiduciaries, estates, and trusts; rate; taxable net income; computation; exemptions; determination of taxable year; tax as charge against estate or trust. 48-7-28.3. 48-7-28.4. 48-7-29. 48-7-29.1. 48-7-29.2. 48-7-29.3. 48-7-29.4. 5 Taxation of partnerships. Nonresident members of resident partnerships; resident members of nonresident partnerships; profits; distributive shares; taxability. Exempt corporations and organizations; eligibility for and revocation of exempt status; retroactivity; statute of limitations; information returns; unrelated business income; deductibility of death benefit payments. Personal exemptions. (Effective until January 1, 2025.) Computation of taxable net income. (Effective January 1, 2025.) Computation of taxable net income. Tax credits for taxpayers electing certain itemized nonbusiness deductions. Reciprocity. Tax repayments and benefits. Employer social security credits. Expenses from transactions with related members. Adjustments to taxes; disallowing expenses paid to certain real estate investment trusts; procedures, conditions, and limitations. (Reserved effective December 31, 2029.) Tax credits for rural physicians. Tax credits for retrofitting certain single- family homes with accessibility features. Tax credits for qualified caregiving expenses. [Repealed] Tax credits for federal qualified transportation fringe benefits. (Effective until January 1, T.48, C.7 REVENUE AND TAXATION Sec. Sec. 48-7-29.4. 48-7-29.5. 48-7-29.6. 48-7-29.7. 48-7-29.7. 48-7-29.8. 48-7-29.9. 48-7-29.9. 48-7-29.10. 48-7-29.11. 48-7-29.12. 48-7-29.12. 48-7-29.13. 48-7-29.13. T.48, C.7 2025.) Tax credits for disaster assistance funds received. (Effective January 1, 2025.) Tax credits for disaster assistance funds received. [Repealed] Tax credits for private driver education courses of minors; required documentation; rules and regulations. Tax credits for qualified lowincome buildings. (Effective until January 1, 2025.) Tax credits for depository financial institutions. (Effective January 1, 2025.) Tax credits for depository financial institutions. (Reserved effective December 31, 2029.) Tax credits for the rehabilitation of historic structures. (Effective until January 1, 2025.) Tax credits for qualified life insurance premiums for active duty National Guard and Air National Guard members. (Effective January 1, 2025.) Tax credits for qualified life insurance premiums for active duty National Guard and Air National Guard members. Tax credits for qualified child and dependent care expenses. Tax credits for eligible teleworking expenses. (Effective until January 1, 2025.) Tax credits for donation of real property for conservation purposes. (Effective January 1, 2025.) Tax credits for donation of real property for conservation purposes. (Effective until January 1, 2025.) Tax credits for qualified health insurance expenses. (Effective January 1, 2025. 48-7-29.14. 48-7-29.14. 48-7-29.15. 48-7-29.16. 48-7-29.16. 48-7-29.17. 48-7-29.17. 48-7-29.18. 48-7-29.19. 48-7-29.20. 48-7-29.20. 48-7-29.21. 48-7-29.21. 6 Reserved effective December 31, 2029.) Tax credits for qualified health insurance expenses. (Effective until January 1, 2025.) Tax credits for clean energy property. (Effective January 1, 2025.) Tax credits for clean energy property. Tax credits for the adoption of foster children. (Effective until January 1, 2025.) Tax credits for contributions to student scholarship organizations. (Effective January 1, 2025.) Tax credits for contributions to student scholarship organizations. (Effective until January 1, 2025.) Tax credits for purchase of eligible single-family residence. (Effective January 1, 2025.) Tax credits for purchase of eligible single-family residence. Tax credits for purchasers of alternative fuel heavy-duty and medium-duty vehicles. Procedures, conditions, and limitations for the tax credits for purchasers of alternative fuel heavy-duty and medium-duty vehicles. (Effective until January 1, 2025.) Tax credits for contributions to rural hospital organizations. (Effective January 1, 2025. Reserved effective December 31, 2029.) Tax credits for contributions to rural hospital organizations. (Effective until January 1, 2025.) Tax credits for donations to nonprofit corporations awarding grants to public schools. (Effective January 1, 2025. Repealed effective December 31, 2029.) Tax credits for donations to nonprofit cor- T.48, C.7 INCOME TAXES Sec. 48-7-29.22. 48-7-29.23. 48-7-29.24. 48-7-29.24. 48-7-29.25. 48-7-29.25. 48-7-29.26. 48-7-30. 48-7-31. 48-7-31.1. 48-7-32. 48-7-33. 48-7-34. T.48, C.7 Sec. porations awarding grants to public schools. (Repealed effective December 31, 2026.) Tax credits for certain medical preceptor rotations. Tax credits for teachers in the teacher recruitment and retention program. (Effective until January 1, 2025.) Tax credits for contributions to foster child support organizations. (Effective January 1, 2025.) Tax credits for contributions to foster child support organizations. (Effective until January 1, 2025.) Tax credits for contributions to law enforcement foundations. (Effective January 1, 2025.) Tax credits for contributions to law enforcement foundations. (Reserved effective December 31, 2029.) Tax credits for rural health care professionals. Taxation of nonresident’s net income derived from activities within state; separate accounting; deductions; applicability of provisions for corporations to nonresidents. Taxation of corporations; computation, allocation, and apportionment of income. Conditions for allocating taxpayer’s income pursuant to agreement; public inspection; criteria for evaluating proposals. Taxation of railroad and public service corporations; computation of net income where business is within and outside state; net income for all other such corporations. Annual accounting periods. Returns of corporations and 48-7-35. 48-7-36. 48-7-37. 48-7-38. 48-7-39. 48-7-40. 48-7-40. 48-7-40.1. 48-7-40.1. 48-7-40.1A. 48-7-40.1A. 7 nonresidents based upon books of account; application to commissioner; time; contents. Application for permission to use other method of allocation by corporation or nonresident; contents; effect of failure to receive notice of rejection. Tolling of time limits for filings by reason of war related service in armed forces. Taxes due from members of armed forces dying on active duty; applicability of tax to particular taxable years; assessment of unpaid taxes; abatement; credit or refund of collected payments. Deduction for payments to classified subcontractors; disclosure of tax returns; maintenance of list of classified subcontractors. Depreciation of property placed in service in prior tax years. (Effective until January 1, 2025.) Designation of counties as less developed areas; tax credits for certain business enterprises. (Effective January 1, 2025.) Designation of counties as less developed areas; tax credits for certain business enterprises. (Effective until January 1, 2025.) Tax credits for business enterprises in less developed areas. (Effective January 1, 2025.) Tax credits for business enterprises in less developed areas. (Effective until January 1, 2025.) Tax credits for personal protective equipment manufacturers. (Effective January 1, 2025.) Tax credits for personal protective equipment manufacturers. T.48, C.7 Sec. 48-7-40.1B. 48-7-40.1B. 48-7-40.2. 48-7-40.2. 48-7-40.3. 48-7-40.3. 48-7-40.4. 48-7-40.4. 48-7-40.5. 48-7-40.5. 48-7-40.6. REVENUE AND TAXATION Sec. 48-7-40.7. (Effective until January 1, 2025.) Tax credits for manufacturers of medical equipment and supplies, pharmaceuticals, and medicine. (Effective January 1, 2025.) Tax credits for manufacturers of medical equipment and supplies, pharmaceuticals, and medicine. (Effective until January 1, 2025.) Tax credits for existing manufacturing and telecommunications facilities in tier 1 counties. (Effective January 1, 2025.) Tax credits for existing manufacturing and telecommunications facilities in tier 1 counties. (Effective until January 1, 2025.) Tax credits for existing manufacturing and telecommunications facilities in tier 2 counties. (Effective January 1, 2025.) Tax credits for existing manufacturing and telecommunications facilities in tier 2 counties. (Effective until January 1, 2025.) Tax credits for existing manufacturing and telecommunications facilities or manufacturing and telecommunications support facilities in tier 3 or 4 counties. (Effective January 1, 2025.) Tax credits for existing manufacturing and telecommunications facilities or manufacturing and telecommunications support facilities in tier 3 or 4 counties. (Effective until January 1, 2025.) Tax credits for employers providing approved retraining programs. (Effective January 1, 2025.) Tax credits for employers providing approved retraining programs. Tax credits for employers providing child care. 48-7-40.7. 48-7-40.8. 48-7-40.8. 48-7-40.9. 48-7-40.9. 48-7-40.10. 48-7-40.11. 48-7-40.12. 48-7-40.12. 48-7-40.13. 48-7-40.14. 48-7-40.15. 8 T.48, C.7 (Effective until January 1, 2025.) Optional tax credits for existing manufacturing and telecommunications facilities in tier 1 counties. (Effective January 1, 2025.) Optional tax credits for existing manufacturing and telecommunications facilities in tier 1 counties. (Effective until January 1, 2025.) Optional tax credits for existing manufacturing and telecommunications facilities in tier 2 counties. (Effective January 1, 2025.) Optional tax credits for existing manufacturing and telecommunications facilities in tier 2 counties. (Effective until January 1, 2025.) Optional tax credits for existing manufacturing and telecommunications facilities or manufacturing and telecommunications support facilities in tier 3 and 4 counties. (Effective January 1, 2025.) Optional tax credits for existing manufacturing and telecommunications facilities or manufacturing and telecommunications support facilities in tier 3 and 4 counties. [Reserved] Tax credits for water conservation facilities and qualified water conservation investment property. [Reserved] Tax credits for shift from ground-water usage. (Effective until January 1, 2025.) Tax credits for qualified research expenses. (Effective January 1, 2025.) Tax credits for qualified research expenses. [Reserved] “Business enterprise” defined; tax credit. Calculation of new full-time jobs. (Effective until January 1, T.48, C.7 INCOME TAXES Sec. 48-7-40.22. Sec.