In general, you will be charged interest and penalties if you do not
pay all amounts due on or before the due date.
1. A 2012 calendar year return is due on or before May 15, 2013.
2. Returns for scal years are due on or before the 15th day of
the fth month after the close of the taxable year.
3. If the due date falls on a weekend or legal holiday, the return
is due the next business day.
Important: An extension does not relieve you of your obliga-
tion to pay all tax amounts due by the original due date.
Interest – If your income tax is not paid by the due date, you will be
charged interest on the unpaid tax until the balance is paid in full.
The interest rate is variable and the 2013 interest rate is posted on
LDR’s website on Form R-1111, Interest Rate Schedule Collected
on Unpaid Taxes. To compute the DAILY INTEREST RATE,
multiply the 2013 monthly interest rate by 12 then divide the result
by 365 and carry out to seven places to the right of the decimal.
Example: Assume the 2013 monthly interest rate is 0.5833 percent,
multiply 0.005833 by 12 then divide the result by 365 to get the
daily interest rate of 0.0001917.
Interest Calculation Worksheet
1
Number of days late from the due date.
2
Interest rate per day (See instructions above.)
0.
3
Interest rate (Multiply Line 1 by Line 2.)
4
Amount you owe (Form IT-540B-NRA, Line 23.)
.00
5
Total interest due (Multiply Line 4 by Line 3, and
enter the result on Form IT-540B-NRA, Line 28.)
.00
Delinquent Filing Penalty – A delinquent ling penalty will be
charged for failure to le a timely return on or before your due date
or your approved extension date. The penalty is ve percent of
the tax for each 30 days or fraction thereof during which the failure
to le continues. By law, the maximum delinquent ling penalty
that can be imposed is 25 percent of the tax due.
Delinquent Filing Penalty Calculation Worksheet
1
Number of days late from your due date, or
your approved extension date.
2
Divide Line 1 by 30 (days).
÷30
3
Number of 30-day periods (If fraction of
days remain, increase to nearest whole
number.)
4
30-day penalty percentage
.05
5
Total penalty percentage (Multiply Line 3
by Line 4. The result cannot exceed
25 percent [.25].)
6
Amount you owe (Form IT-540B-NRA, Line 23.)
.00
7
Total amount of delinquent filing penalty due
(Multiply Line 6 by Line 5 and enter
the result on Form IT-540B-NRA, Line 29.)
.00
Important Notice: The sum of BOTH the delinquent ling and
delinquent payment penalties cannot exceed 25 percent of the
tax due. Thirty day increments are used for the calculation of
the delinquent ling and delinquent payment penalties. These
penalties are based on the date the Department receives
the return or payment. In addition to the delinquent penalties
mentioned above, you may also incur a negligence penalty if
circumstances indicate willful negligence or intentional disregard
of rules and regulations.
Delinquent Payment Penalty – If you fail to pay 90 percent of
the tax due by the due date, or scal year due date, a delinquent
payment penalty will be assessed. A penalty of 0.5 percent of
the tax not paid by the due date will accrue for each 30 days, or
fraction thereof, during which the failure to pay continues. This
penalty cannot exceed 25 percent of the tax due.
To determine if you owe a delinquent payment penalty, answer
the following questions:
1. Are you paying a 2012 tax liability after the due date? If yes,
continue to Line 2.
2. Have you paid at least 90 percent of total tax due?
a. Enter the amount from Form IT-540B-NRA
Line 14. . . . . . . . . . . . . . .00
b. Enter the amount from Form IT-540B-NRA,
Line 15A. . . . . . . . . . . . . . .00
c. Enter the amount from Form IT-540B-NRA,
Line 15B. . . . . . . . . . . . . . .00
d. Subtract Lines “b” and “c” from Line
“a” above. . . . . . . . . . . . . . .00
e. Multiply Line “d” by 10 percent (.10). . . .00
f. Enter the amount from Form IT-540B-NRA,
Line 23. . . . . . . . . . . . . . .00
If the amount on Line f is less than or equal to the amount on Line e,
you have paid at least 90 percent of the total tax due. If the amount
on Line f is greater than the amount on Line e, you have not paid
at least 90 percent of the total tax due by the due date; therefore,
you owe the delinquent payment penalty. Use the worksheet below
to calculate that penalty.
Delinquent Payment Penalty Calculation Worksheet
1
Number of days late from the due date.
2
Divide Line 1 by 30 days.
÷30
3
Number of 30-day periods (If fraction of
days remain, increase the amount to the
nearest whole number.)
4
30-day penalty percentage
.005
5
Total penalty percentage (Multiply Line 3
by Line 4. The result cannot exceed 25
percent [.25].)
6
Amount you owe (Form IT-540B-NRA, Line 23.)
.00
7
Total amount of Delinquent Payment Penalty
(Multiply Line 6 by Line 5 and enter the result
on Form IT-540B-NRA, Line 30.)
.00
Underpayment Penalty – You may be charged an Underpayment
Penalty if: (A) your tax deciency is greater than $1,000; and (B)
your ling status is either single, married ling separately, head of
household, or qualifying widow(er). If your ling status is married
ling jointly, you may be charged an Underpayment Penalty if
your tax deciency is greater than $2,000. In order to determine
if an underpayment penalty is due and to compute the amount
of the underpayment penalty, you must obtain Form R-210NRA,
Nonresident Professional Athlete Underpayment Return.
Interest and Penalty Calculation Worksheets
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