What is the late penalty fee that is charged if a quarterly return is filed after the due date?
The late penalty fee is charged for unpaid balances of prize fees or gross rental tax due. If your payment of prize fees or gross rental tax is 1 to 30 days late, the penalty is 5% of the unpaid balance due. If your payment is paid 31 to 60 days late, the penalty is 10% of the unpaid balance due. If your unpaid prize fee or gross rental tax balance exceeds $100.00 and the payment is more than 20 days after a notice of determination penalty has been issued, an additional 10% jeopardy determination penalty must be added to the amount due. If a determination penalty becomes final your organization may also be required to post a bond or increase the amount of an existing bond.
