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09. Are there any penalties or interest if I file my returns late?

There is a failure to file penalty of $25.00 or 10% of the tax due which ever is greater, if the return is not postmarked or electronically filed by the due date.

There is a failure to pay penalty of 1% per month or for any part thereof, if the payment is not postmarked or electronically paid by the due date.

Interest is compounded monthly or for any partial month that a balance remains unpaid.

The interest rate is established January 1 of each calendar year. To see the current interest rates go to: http://www.maine.gov/revenue/rules/html/rule101.htm