What are the penalty charges for failure to file or pay?

For Notices of Intent to Assess/Assessments issued on or before February 28, 2003

 

A penalty of $10.00 or 5% of the tax, whichever is greater, shall be added if the failure is for not more than 1 month, with an additional 5% penalty for each additional month or fraction of a month during which the failure continues or the tax and penalty is not paid, to a maximum of 50%.

For Notices of Intent to Assess/Assessments issued after February 28, 2003:

A penalty of 5% of the tax shall be added if the failure is for not more than 2 months, with an additional 5% penalty for each additional month or fraction of a month during which the failure continues or the tax and penalty is not paid, to a maximum of 25%.