(a) If any private car company shall fail or refuse to make and file the statement required by § 26-26-1702 within the time therein prescribed or shall fail or refuse to authorize in writing the use of the information and data submitted by the several railroads in determining its assessment, the Tax Division of the Arkansas Public Service Commission shall proceed to determine and fix the assessment of each car company on the basis of information reported to it by the several railroad companies and other information it may obtain. Each assessed valuation so determined shall be increased by ten percent (10%) as a penalty for failure to file its report, and taxes shall be extended and certified on the increased amount.
(b) If any railroad shall fail or refuse to make and file the statement as required in § 26-26-1703, it shall forfeit to the state, as a penalty for the failure or refusal, the sum of five hundred dollars ($500). Any failure or refusal shall be certified by the division to the Attorney General, whose duty it shall be to institute such action as he or she may deem proper for the collection of any penalty.
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal insurance products you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with access to legal services through a network of provider law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our provider law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your provider law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal insurance products, and access to the LegalFix network of provider law firms are subject to the LegalFix Terms of Service and Privacy Policy.
