2005 Minnesota Statutes - 297I.80 — Interest.

     297I.80 Interest. 


    Subdivision 1.    Payable to the commissioner.  (a) When 
 interest is required under this section, interest is computed at 
 the rate specified in section 270C.40. 


    (b) If a tax or surcharge is not paid within the time named 
 by law for payment, the unpaid tax or surcharge bears interest 
 from the date the tax or surcharge should have been paid until 
 the date the tax or surcharge is paid. 


    (c) Whenever a taxpayer is liable for additional tax or 
 surcharge because of a redetermination by the commissioner or 
 other reason, the additional tax or surcharge bears interest 
 from the time the tax or surcharge should have been paid until 
 the date the tax or surcharge is paid. 


    (d) A penalty bears interest from the date the return or 
 payment was required to be filed or paid to the date of payment 
 of the penalty. 


    Subd. 2.    On overpayments.  (a) When interest is 
 required under this section, interest is computed at the rate 
 specified in section 270C.405. 


    (b) Interest on an overpayment is computed from the date of 
 the payment of the tax or surcharge until the date the refund is 
 made.  For purposes of this subdivision, any payment made before 
 the last day prescribed by law to make the payment, including 
 any estimated tax payments, is considered paid on the last day 
 prescribed by law for the payment.  A return filed before the 
 due date is considered as filed on the due date. 


    HIST: 2000 c 394 art 1 s 17; 2005 c 151 art 2 s 17