Business Tax Penalties and Interest

Business tax filings and payments received or postmarked after the deadline are generally subject to penalties and fees specified under Section 6.17-1:

  1. A late payment penalty equal to the fee or tax multiplied by the penalty percentage as described in the table below;
  2. Interest accruing at 1% per month on the amount that remains unpaid; and
  3. An administrative fee of $55.
Payment Received AfterPayment Received By
Penalty Percentage
Due dateOne month after due date5% (0.05)
One month after due dateTwo months after due date10% (0.10)
Two months after due dateThree months after due date15% (0.15)
Three months after due dateN/A40% (0.40)

 

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