Penalties and Interest on Business Taxes

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

  1. A late filing penalty of up to $100;
  2. A late payment penalty as described in the table below;
  3. Interest accruing at 1% per month on the amount that remains unpaid; and
  4. An administrative fee of $55.

 

Payment Received AfterPayment Received ByPenalty 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)