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Georgia House Rejects Tax Refund Interest Bill

Associated Press - March 16, 2011 4:54 PM ET

ATLANTA (AP) - The House has rejected a bill aimed at halting businesses from overpaying sales tax then collecting hefty interest payments from the state.

Lawmakers voted the bill down 82-92 on Wednesday, voted to reconsider it and then quickly rejected it again 83-89.

State Rep. David Knight said some companies know the state pays 12% interest a year and intentionally overpay. They seek a refund after several years have passed. The Republican from Griffin said the state has paid out $16 million interest on such claims over the past three years.

His bill would have required that interest on overpayments couldn't go into effect until businesses apply for the refund.

But Alpharetta Republican Rep. Chuck Martin argued businesses could be penalized for honest mistakes.

House Bill 389: http://www.legis.ga.gov

Copyright 2011 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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