§ 74-479. Penalties; interest.

(a)

A return for the tax imposed under this article must be filed for the required period regardless of whether any tax is due. If a seller fails to file or pay the full amount of the tax when due, a penalty of six percent of the tax due will be added to the tax for each month or any part of a month that the return is not filed or the tax is not paid. The maximum penalty is 30 percent; the minimum penalty is $10.00.

(b)

Interest at the underpayment rate established by section 6621 of the Internal Revenue Code, plus two percent, will be added to the tax on late returns. The variable seller's discount provided in section 74-481 of this article and allowed on timely filed returns is disallowed on any return filed or paid after the due date. The United States postmark date on the envelope is used as the basis for imposing penalty and interest.

(Code 1988, § 13-284)

(Code 1988, § 13-284)