Subdivision 1. Interest rate.
If an interest assessment is required under this section, interest
is computed at the rate specified in section
Subd. 2. Late payment.
If a tax is not paid within the time specified by law for payment, the
unpaid tax bears interest from the date the tax should have been paid until the date the tax is paid.
Subd. 3. Extensions.
If an extension of time for payment has been granted, interest must
be paid from the date the payment should have been made if no extension had been granted,
until the date the tax is paid.
Subd. 4. Additional assessments.
If a taxpayer is liable for additional taxes because of a
redetermination by the commissioner, or for any other reason, the additional taxes bear interest
from the time the tax should have been paid, without regard to any extension allowed, until the
date the tax is paid.
Subd. 5. Erroneous refunds.
In the case of an erroneous refund, interest accrues from the
date the refund was paid unless the erroneous refund results from a mistake of the department,
then no interest or penalty is imposed unless the deficiency assessment is not satisfied within
60 days of the order.
Subd. 6. Interest on judgments.
, if judgment is entered in
favor of the commissioner with regard to any tax, the judgment bears interest at the rate specified
from the date the judgment is entered until the date of payment.
Subd. 7. Interest on penalties.
(a) A penalty imposed under section
297E.12, subdivision 1
2, 3, 4, or 5, bears interest from the date the return or payment was required to be filed or paid,
including any extensions, to the date of payment of the penalty.
(b) A penalty not included in paragraph (a) bears interest only if it is not paid within ten
days from the date of notice. In that case interest is imposed from the date of notice to the date of
History: 1994 c 633 art 2 s 15; 2005 c 151 art 2 s 17