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Is penalty and interest assessed for underpayment of sales and use tax ?

April 26, 2017assessed penalty sales tax underpayment

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Is penalty and interest assessed for underpayment of sales and use tax ?

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A. Yes. A penalty of 5 percent of the tax due or $25, whichever is greater, is assessed for each tax type, not to exceed 25 percent of the tax due. Interest accrues at one percent per month until the tax due is paid in full.

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. Yes. A penalty of 5 percent of the tax due or $25, whichever is greater, is assessed for each tax type, not to exceed 25 percent of the tax due. Interest accrues at one percent per month until the tax due is paid in full.