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This entry was published on 2014-09-22
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SECTION 14-A
Tax audit reporting system
State Finance (STF) CHAPTER 56, ARTICLE 2
§ 14-a. Tax audit reporting system. 1. The department of taxation and
finance shall establish and maintain a comprehensive tax audit reporting
system which shall provide the governor and the legislature with a
systematic method to evaluate the progress made by the department in
achieving revenue targets. In order to ensure that the reporting system
is made an integral part of the state fiscal plan, the following
procedure is hereby established for the development of the form and
contents of tax audit target reports and quarterly tax audit reports and
for the submission of such reports.

2. Annually, but no later than ninety days prior to the commencement
of each fiscal year, the department shall submit to the governor, a tax
audit target report for such fiscal year which contains the following
information for each general and special revenue fund tax, the cash
receipts of which during the last completed state fiscal year exceeded
fifty million dollars: annual and quarterly numbers of audits to be
completed, annual and quarterly dollar amounts of assessments and
collections expected, anticipated annual average assessments and average
collections per audit, and anticipated annual average assessments and
average collections per auditor for each such tax source. This data is
to be provided differentiating between solely utilizing existing staff
levels and any proposed changes to such levels. Copies of such report
shall be simultaneously furnished to the senate finance committee and
the assembly ways and means committee for their information.

3. In addition, after the tax audit target report for a fiscal year
has been submitted as required, the department shall submit quarterly to
the governor, within thirty days of the close of each quarter of the
state fiscal year to which such tax audit target report shall pertain, a
quarterly tax audit report which summarizes the actual experiences to
date of assessments and collections for each tax source in forms
suitable for comparison with such target report. Such quarterly reports
shall provide an explanation of the causes of any major deviation from
the targets set in such target report. Copies of such quarterly tax
audit reports shall be simultaneously furnished to the senate finance
committee and the assembly ways and means committee for their
information.