Indiana § 6-2.5-6-12 Security for payment of tax collected

Indiana Statutes

§ 6-2.5-6-12 — Security for payment of tax collected

Indiana § 6-2.5-6-12

Art. 2.5STATE GROSS RETAIL AND USE TAXES

Ch. 6Returns, Remittances, and Refunds

This text of Indiana § 6-2.5-6-12 (Security for payment of tax collected) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 6-2.5-6-12 (2026).

Text

(a)Whenever the department feels it necessary to insure the payment of the state gross retail or use taxes, the department may require a retail merchant to post security for that payment in any amount not to exceed twice the department's estimate of the retail merchant's quarterly state gross retail and use tax liability.

(b)If necessary to recover any tax, interest, or penalty which the retail merchant owes under this article, the department may sell the security. If the security is in the form of a bearer bond which is issued by a governmental unit and which has a prevailing market price, the department may sell the security at a private sale for not less than that market price. If the security is in any other form, the department shall sell it at a public auction.

(c)Before the depar

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(a) Whenever the department feels it
necessary to insure the payment of the state gross retail or use taxes,
the department may require a retail merchant to post security for that
payment in any amount not to exceed twice the department's estimate
of the retail merchant's quarterly state gross retail and use tax liability.
(b) If necessary to recover any tax, interest, or penalty which the
retail merchant owes under this article, the department may sell the
security. If the security is in the form of a bearer bond which is issued
by a governmental unit and which has a prevailing market price, the
department may sell the security at a private sale for not less than that
market price. If the security is in any other form, the department shall
sell it at a public auction.
(c) Before the department may sell a retail merchant's security, the
department shall give the retail merchant notice of the time, place, and
date of the sale. The department shall send the notice by certified mail
to the retail merchant's most recent address according to the
department's records.
(d) If the proceeds of the security sale exceed the tax, interest, and
penalties owing, the department shall refund the remainder to the retail
merchant.
As added by Acts 1980, P.L.52, SEC.1.