Sec. 191.1442. PENALTY AND INTEREST

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(a) A penalty of five percent of the tax due shall be imposed on a person who fails to pay the tax imposed or file a report required by this chapter when due, and, if the person fails to file the report or pay the tax within 30 days after the day on which the tax or report is due, an additional five percent penalty shall be imposed.
(b) The yearly interest rate on delinquent tax imposed by this chapter is 12 percent. Delinquent taxes draw interest beginning 60 days from the due date.

Added by Acts 1995, 74th Leg., ch. 66, Sec. 1, eff. June 1, 1995.

                    
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