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.
What are the MI-2210 penalty and interest charges?
- Penalty is 25% for failing to file estimated payments (minimum of $25 per quarter) or
- 10% of the underpaid estimates (minimum of $10 per quarter)
- Interest accrues at 1% above the prime rate and is computed monthly