Rule 20:04:33:05 Returns and reports -- Time frames -- Penalties.
20:04:33:05. Returns and reports -- Time frames -- Penalties.
Any person required to file returns or reports under this chapter, who fails to
file a return or report which includes all taxable transactions within fifteen
days following the date the return or report is due is subject to an additional
amount, assessed as a penalty, equal to fifteen percent of the tax or ten
dollars whichever is greater. However, for reasonable cause shown, the
executive secretary may reduce or eliminate such penalty. Any person subject to
tax under this chapter who fails to pay the tax within the time prescribed is
subject to an interest charge of two percent per month or part thereof for
which the payment is late or five dollars whichever is greater. Penalty and
interest are considered the same as tax for the purposes of collection and
enforcement including liens, distress warrants, and criminal violations. Any
payment received for taxes, penalty, or interest is applied first to tax,
beginning with the oldest delinquency, then to interest, and then to penalty.
The executive secretary may, upon application of the taxpayer, establish a
maximum interest rate of thirty-six percent upon delinquent taxes if the
executive secretary determines that the delinquent payment was caused by a
mistake of law and was not caused by an intent to
evade the tax.
32 SDR 32, effective August 30, 2005.
General Authority: SDCL 42-7-56(15)(16).
Law Implemented: SDCL 42-7-56(15)(16), 42-7-58.1, 42‑7‑102.
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