Current penalty and interest rates, as well as rates from past years for individual and business taxes can be found here:
June Accelerated Payment Information
A business designated as a mandatory payer may be subject to a penalty if a June accelerated payment is not paid by the due date. If the payment is underpaid the business is also subjected to a penalty.
The penalty is 10 percent of the difference between the required payment and what was paid. The required payment is 90 percent of the actual June sales tax, 90 percent of May sales tax or 90 percent of the average monthly sales tax for the previous calendar year.
Repeat Penalty
Debtors who repeatedly fail to pay the following taxes by the due date are subject to a 25 percent repeat penalty:
A pattern of repeated failures during the previous 25 months where a debtor did not pay taxes by the due date for the same tax type on at least three different occasions that resulted in three delinquencies will result in a warning. The Minnesota Department of Revenue will apply the penalty on the next delinquency.
