Rules & Regulations of the State of Tennessee
Title 1320 - Revenue
Subtitle 1320-07 - Petroleum Tax Division
Chapter 1320-07-02 - Gasoline Tax
Section 1320-07-02-.03 - PENALTY AND INTEREST CALCULATION

If any tax or portion thereof is not paid on or before the twentieth (20th) day of the month following the month in which it is due it shall be delinquent and subject to a penalty of one percent (1%) per day up to ten (10) days or a total of ten percent (10%). In no case shall the penalty be less than ten dollars ($10). Interest shall be calculated at the rate provided by law from the date the tax is due until the end of the month in which it is paid. Any penalty incurred by a taxpayer pursuant to T.C.A. Section 67-3312 may be waived pursuant to T.C.A. Section 67-101(5).

Authority: T.C.A. §§67-3828 and 67-101.