Mississippi Administrative Code
Title 35 - Department of Revenue
Part 4 - Sales and Use Tax
Subpart 01 - Administrative
Chapter 02 - Damages for Delinquent Payment of Tax
Section 35-4-01-02-101
Current through September 24, 2024
Any taxpayer, to whom a sixty (60) day delinquent notice has been directed or who makes a payment after the due date , will be assessed a ten percent (10%) penalty and be subject to interest when the tax is paid. This penalty is applicable in those instances where the failure to pay is due to the taxpayers' negligence and the failure to comply is determined to be without the intent to defraud. The interest rate assessed on or after January 1, 2015, is:
1. Nine-tenths of one percent (9/10 of 1%) per month for taxes assessed on or after January 1, 2015, and before January 1, 2016;
2. Eight-tenths of one percent (8/10 of 1%) per month for taxes assessed on or after January 1, 2016, and before January 1, 2017;
3. Seven-tenths of one percent (7/10 of 1%) per month for taxes assessed on or after January 1, 2017, and before January 1, 2018;
4. Six-tenths of one percent (6/10 of 1%) per month for taxes assessed on or after January 1, 2018, and before January 1, 2019; and
5. One-half of one percent (1/2 of 1%) per month for taxes assessed on or after January 1, 2019.
