Colorado – 2014 Interest and Penalty Rates

SALT Report 3174 – Colorado has published its 2014 tax interest and penalty rates, see “FYI Publication – General 11”.  According to the Department of Revenue “the rate of 6% will apply to underpayments, nonpayments, and overpayments of Colorado taxes during 2014.”  The DOR also notes that “if payment of the tax, or an agreement to pay, is made within 30 days of notice of underpayment or nonpayment, or a tax underpayment or nonpayment is paid voluntarily without notification from the Colorado Department of Revenue, the CDOR waives the three percentage points above the prime rate and the applicable rate is 3%”.

For Further Information:

Colorado Taxation Division:  2014 Interest and Penalty Rates

General FYI Publications – General 11 Colorado Civil Tax Penalties and Interest