The Minnesota Department of Revenue may assess penalties and interest if you are late filling your annual Occupation Tax return or making a deposit.
The table below shows the penalties and interest we may assess, when they apply, and the rate for each type.
| do not pay your tax due by May 1 |
a Late Payment penalty |
6% of the unpaid tax for each 30-day period (full or partial) that your payment is late, up to 15% |
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| do not pay your tax by May 1 |
a Balance Not Paid penalty |
5% of the unpaid tax |
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| do not file your return by May 1 |
a Late Filing penalty |
5% of the unpaid tax |
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| do not file your annual return within 30 days |
an Extended Delinquency penalty |
55 of any unpaid tax, in addition to any other late-filling penalties |
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| are required to make electronic payments but paid by check |
a Payment Method penalty |
5% of any payments that were not made electronically |
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| if you understate your tax by more than 10% or $10,000, whichever is more |
an Understate Tax penalty |
20% of the understated/underpaid tax amount |
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| do not file, or file a false or incorrect return (but without the intent to defraud) |
a penalty of Negligent or Intentional Disregard of the law |
10% of any additional unpaid tax |
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| do not file, or knowingly file a false or fraudulent return |
an Intentionally Not Filed penalty |
50% of the total tax liability |
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| do not pay your tax by May 1 |
Interest (rate is determined yearly) |
for 2011, 3% of the unpaid tax and penalty from the return due date until the tax is paid |
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