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