State law requires taxpayers to pay different levels of interest and penalties for late and incorrect tax payments that vary based on the type of tax.
The law, however, should be changed to treat taxpayers more consistently and to encourage voluntary compliance with tax laws.
The state interest rate charged for corporate income taxpayers is lower than the interest rate charged other taxpayers and may be too low for encouraging timely payment of tax.
The penalty for late payment of intangible tax is substantially higher than what is charged for late payment of other taxes and should be reduced.
In addition, the Department's process for reviewing and approving penalty waivers is inefficient and does not assure that taxpayers are treated consistently.

Progress Report: Interest & Penalty Provisions for Taxes Administered by the Department of Revenue
Report 98-85 June 1999

Copies of this report in print or alternate accessible format may be obtained by email OPPAGA@oppaga.fl.gov, telephone (850) 488-0021, or mail 111 W. Madison St., Room 312 Tallahassee, FL 32399-1475.