Penalties and Interest on Business Taxes

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

  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 After Payment Received By Penalty Percentage
Due date One month after due date 5% (0.05)
One month after due date Two months after due date 10% (0.10)
Two months after due date Three months after due date 15% (0.15)
Three months after due date N/A 40% (0.40)