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Sales and Use Tax Penalties and Interest

Penalty and interest may be charged for both late filing of a tax return and late payment of tax due as follows:
  • The late filing penalty is 5% of the tax due for each month or part of a month the return is late. The maximum penalty for late filing is 25%. A penalty of $100 for each month the return is late may also be charged.
  • A late payment penalty of 5% of the tax due may also be charged.
  • Interest is calculated at the annual rate of 3% above the prime rate for every month or part of a month the tax is unpaid, compounded annually. At the end of each calendar year, any tax, penalties and interest still due become part of the balance on which interest is charged.
The Division publishes a Technical Bulletin, TB-21(R), showing the current interest rate and the interest rate history for recent years.

Last Updated: Wednesday, 08/20/14

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