Md. Code Regs. 03.03.04.13

Current through Register Vol. 51, No. 24, December 2, 2024

Section 03.03.04.13 - Penalties and Interest

A. Penalties.

(1) If a person fails to file an IFTA report and schedules when due, a penalty shall be assessed in the amount of 10 percent of the tax due, with a minimum assessment of $50.

(2) A penalty of $50 shall be assessed when an IFTA report and schedules are not filed when due, even if taxes are not due.

(3) If a person files an IFTA report and schedules timely but, for whatever reason, underpays the proper tax due an IFTA jurisdiction, a penalty shall be assessed in the amount of 10 percent of the additional tax due, with a minimum assessment of $50.

B. Interest.

(1) If a person fails to file a return when due, interest shall be assessed as prescribed in Tax-General Article, Title 13, Annotated Code of Maryland.

(2) Interest on unpaid tax assessments shall be assessed as prescribed in Tax-General Article, Title 13, Annotated Code of Maryland.

Md. Code Regs. 03.03.04.13

Regulation .13 adopted effective June 2, 1978 (5:11 Md. R. 881)
Regulation .13 amended effective November 22, 1982 (9:23 Md. R. 2257)
Regulation .13A amended effective September 7, 1987 (14:18 Md. R. 1963)
Regulation .13B amended effective September 7, 1987 (14:18 Md. R. 1963)
Regulation .13E amended effective September 7, 1987 (14:18 Md. R. 1963)
Regulation .13A amended effective May 8, 1995 (22:9 Md. R. 644)