2006 Minnesota Code
Chapters 296 - 299 Excise and Sales Taxes
Chapter 297I Insurance Taxes
Section 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.
History: 2000 c 394 art 1 s 17; 2005 c 151 art 2 s 17