Municipal Net Profit Tax


What if my payment is late?

If your estimated tax payment is late, interest will accrue on the amount of the underpayment for the period of the underpayment and will be added to the tax due. Note that if your estimated payment is late, the next payment made will be considered a payment of the overdue payment only to the extent the amount paid exceeds the amount due for the next quarter. Additionally, the tax commissioner may impose a penalty equal to fifteen percent of the amount not timely paid.