Waiver of Amount applied to Underpayment of Estimated Tax
The added amount which the executive director must impose to an underpayment of estimated tax, pursuant to Section 39-22-605(5), C.R.S. (1988 Supp.), at the rate provided in Section 39-21-110.5, C.R.S. (1982) cannot be waived unless the rate imposed is in excess of the amount permitted under Section 39-21-110.5, C.R.S. (1982). If excessive, the excessive director can take action disapproving the excess amount pursuant to Section 39-21-103, C.R.S. (1982 & 1988 Supp.).