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Sales Tax Penalty & Interest Calculations

To determine the correct amount of Penalty and Interest due with your Sales Tax Return , select the appropriate dates from the drop down boxes, fill in the "Amount of Tax Due" and press "Calculate".

Due Dates | Penalty and Interest Procedures

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Due Dates

• Returns are due 20 days after the last day of the filing period.  (A quarterly, monthly or annual return for the period ending February 28, 1999 would be due March 20, 1999)
   
• If the due date falls on a Saturday, Sunday or legal holiday, the due date is the next day that is not a Saturday, Sunday or legal holiday.
   
• A return is considered filed on the date the return is "postmarked" by the United States Postal Service or "given for delivery" to any of the following private delivery services which qualify under Section 7502 of the Internal Revenue Code.  They are Airborne Express, D.H.L. Worldwide Express, Federal Express and United Parcel Service.

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Interest and Penalty Computation

Interest is always due on any underpayment of tax and is computed at the rate as determined pursuant to Section 1142 of the Tax Law.  It is compounded daily from the due date of the return to the date the tax is paid.  Penalty is due as follows:

  A.  For failure to file a return on time, with no tax due, the penalty is $50.

  B.  For failure to file a return on time with tax due, the penalty is:

• 1-60 days late, 10% (.10) of the tax due for the first month plus 1% (.01) of the tax due for each month thereafter, but in no instance less then $50.
• 61 or more days late, the greater of:
• 10% (.10) of the tax due for the first month plus 1% (.01) of the tax due for each month thereafter, not to exceed 30% (.30); or
• the lesser of $100 or 100% (1.00) of the tax due; but not less than $50.

  C.  For failure to pay tax, even though the return is filed on time, the penalty is 10% (.10) of the tax due for the first month, plus 1% (.01) of the tax due for each additional month, up to a maximum of 30% (.30).

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Calculations | Due Dates | Penalty and Interest Procedures

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Generated on 11/6/99