If I pay late, does the OTC charge me interest or a penalty?

Interest at 1.25% per month will apply to the tax liability from the due date until the date paid. The penalty amount for all business taxes is 10% of the tax due.

Upon payment of the tax, any taxpayer may request a waiver of the assessed penalty and or interest. Facts surrounding the circumstances that prevented timely filing and or payment should be included when making the request.

If your question has not been answered, please visit the Contact Us site and email us your question. Great questions from taxpayers is how this section of the website is created.