In observance of Veterans Day, all State of Michigan offices, including the Department of Treasury, will be closed on Tuesday, November 11. We honor and thank all who have served. Regular business hours will resume on Wednesday, November 12.
Reporting: Am I subject to interest or penalties if I fail to timely file an IFTA fuel tax return?
Yes. The IFTA Articles of Agreement provide for a late payment penalty in the amount of $50 or 10 percent of the tax due, whichever is greater. The IFTA Agreement also provides for the interest to be charged according to the following:
|
Effective Date |
Monthly Rate |
Annual Rate |
|
January 1, 2023 |
0.67% (0.0067) |
8% |
|
January 1, 2021 |
0.42% (0.0042) |
5% |
|
January 1, 2019 |
0.58% (0.0058) | 7% |
| January 1, 2017 | 0.50% (0.0050) | 6% |
Interest is not charged on the net amount of tax due on the return but is calculated on the amount of tax due to each jurisdiction. In some cases, the interest due can be greater than the net amount of tax due.