Lighthouse

INTEREST AND Penalties PRIOR TO 1-1-2016

  • Interest 1% per month on past due taxes.
  • Penalty 10% on past due tax.
  • Late Filing Fee $25.00.
  • Estimated Tax Penalty 1% per month on unpaid quarterly installment.

 

INTEREST AND PENALTIES EFFECTIVE 1-1-2016

  •   Interest  5.0% per annum (0.42%) per month (Interest is based on the Federal rate and may change        annually)  
  •   Late File Penalty  $25.00 per month or fraction or a month with a maximum of $150.00
  •   Late Payment Penalty:  50% of the total tax due