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Last Updated: 12/18/2017

Penalty and Interest Rates

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Insurance Premium Tax ‎

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​The Minnesota Department of Revenue may assess penalties and interest if you are late filing your return, paying your tax, or making quarterly estimated payments.

The table below shows the penalties and interest we may assess, when they apply, and the rate or amount for each type.

If you:​

​We will assess:

​The rate or amount will be:

​do not pay your tax due by the due date ​a Late Payment penalty ​5% of any unpaid tax for each 30-day period (full or partial) that your payment is late, up to 15%
​do not file your return by the due date ​a Late Filing penalty ​5% of any unpaid tax
​are required to make electronic payments but paid by check ​a Payment Method penalty ​5% of any payments that were not made electronically
​do not pay your tax due by the due date ​Interest (see table below) ​for 2018, 4% of the unpaid tax and penalty from the return due date until the tax is paid
​underpaid your quarterly estimated payments ​Additional Charge for Underpaying Estimated Tax (see interest rates below) ​for 2018, 4% of the underpaid estimates 1

Interest Rates

Year​ ​Rate
2018​ 4%​
​2017 4%
​2016 ​3%
​2015 ​3%
​2014 ​3%
Year​ ​Rate
​2013 ​3%
​2012 3%​
​2011 ​3%
​2010 3%
​2009 5%

1 To avoid an additional charge, each quarterly estimated payment must be on time and equal to at least:

  • 20% of your total tax for the current year, or
  • 25% of your total tax liability from the previous year.