Treasury is reviewing the recently enacted tax law changes, including the new Marijuana Wholesale Tax. Developing clear and accurate information for tax stakeholders is our top priority. This guidance will be posted to our website in the coming weeks.
How are penalty/interest charges calculated for failure to file or underpayment of estimated payments?
Penalty is 25% for failure to file estimated payments or 10% of underpaid tax per quarter.
For exceptions see MCL 205.23(3)
Interest is 1% above the prime rate.
For more information view Penalty and Interest for Underpayment of Estimates (MI-2210)