Year End: Business Tax – Revenue Excise tax
Remember to file on time
- Monthly returns are due the 25th of every month.
- Quarterly returns are due the end of the month following the tax quarter.
- Annual returns are due January 31. (e.g. The Annual 2017 tax return is due January 31, 2018)
The Department of Revenue is required to assess a 9 % late penalty if the tax due on a return filed by a taxpayer is not paid by the due date. Late penalties of 19 to 25 percent proceed as follows:
- 19 percent penalty due after the last day of the month following the return’s due date;
- 29 percent penalty due after the last day of the second month following the return’s due date
Note: The minimum penalty for late payment is five dollars.