What happens if I file a late tax return or my tax payment is overdue?
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If you file a late return and/or make a late tax payment, you are liable for interest and penalty charges. If you file a sales tax return after the due date, the discount is not allowed. Taxpayers are required to file sales tax returns by the due date. By law, taxpayers are assessed a $50 late filing penalty after more than two returns are received with a postmark date later than the due date. Once a taxpayer has filed late three or more times, the penalty is automatically assessed on every subsequent late filing. The late filing penalty is assessed even if there is no tax due during the period covered by the report. If the tax liability is paid 1-30 days late, there is a 5% (.05) penalty applied to the amount of sales tax paid after due date. If the tax liability is paid 31-60 days late, there is a 10% (.10) penalty applied to the amount of sales tax due. If the payment is over 60 days late, the penalty is 10% of the amount of sales tax due plus interest. Calculate interest at the rat
If you file a late return and/or make a late tax payment, you are liable for interest and penalty charges. If you pay your full tax liability on time but do not file your return on time, you are still liable for a penalty or filing a late return. For more information on these charges, please refer to Publication 75, Interest and Penalty Charges or call us at 800-400-7115. Under limited circumstances, the Board may allow additional time (up to one month) for filing a return. If the additional time is granted and the return is filed and paid within the time, you will owe interest on the payment but will not be required to pay the penalty. If you are unable to file your return on time, you should contact your local Board office to learn whether you qualify for an extension. (The law does not recognize lack of funds as good cause.
