The Minnesota Department of Revenue may assess penalties and interest if you are late filing your annual MinnesotaCare return, paying your tax, or making a quarterly or monthly estimated payment.
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 March 15 |
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 annual return by March 15 |
a Late Filing penalty |
5% of any unpaid tax |
| do not file your annual return within 30 days after we sent a "demand to file" letter |
an Extended Delinquency penalty |
5% of any unpaid tax or $100, whichever is greater, in additional to any other late-filing penalties |
| 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 March 15 |
Interest (rate is determined yearly) |
for 2011, 3% of the unpaid tax and penalty from the return due date until the tax is paid |
| underpaid your monthly or quarterly tax estimated payment |
Interest on Underpaid Deposits (rate is determined yearly) |
for 2011, 3% of the underpaid deposits 1 |
1 To avoid interest, each monthly or quarterly estimated payments must be on time and equal to at least:
- 90% of your estimated tax for the current year; or
- 100% of your tax liability from the previous year.
