Form Publication 501 for St. Petersburg Florida 2024-2025

Form Publication 501 for St. Petersburg Florida: What You Should Know

This form is informational only. You must refer to a form or citation for complete information on the program, deadlines and additional information. Fines and Penalties Related to Florida's Tax Laws Florida's Tax Code has several penalties. The most serious penalty is the fine and jail time for failing to pay taxes. The rest of the penalties vary depending upon the amount of tax owed and the amount of taxes a person owes from time to time. Payment of Fines and Penalties: The state has several types of fines and penalties that the court can impose, based on the amount of the delinquent taxes. The most serious fines for failure to pay Florida taxes are called “civil penalty assessments.” Penalties for filing late are also imposed upon those who have not filed their returns, but have filed an extension of time by which to file a return. Under state statute and applicable state rules, the court can impose a fine up to 100,000 for filing a false state tax return or for failure to file a return. The court also can impose a fine for willful failure to file. If a person has two or more civil or criminal convictions on their record, the court may assess a 10,000 civil penalties for each conviction. (Section 12.001 of the Florida Statutes) The state Department of Taxation can assess up to three times the amount of the civil penalty assessed in addition to other penalties, including interest. (Section 6111.012, Chapter 5, Chapter 12 of the Florida Statutes) Interest is computed from the date the judgment is entered, and is owed on unpaid penalties and interest until paid to the Division of Taxation. Interest is calculated from the date of payment of the judgment to the date of payment of the penalty. Interest will be allowed on a judgment entered on or after April 15, 2001, and before June 30, 2003. (Section 506 of the Property and Business Code, Title 50, Section 6011) Failure to File: A person must pay the tax with its first filed or amended return or payment. Failure to file a return or payment by the due date may result in criminal prosecution. (Section 473.071, Florida Statutes) The penalty for failure to file a return or payment by the due date is a fine of 5% of the taxes in question per delinquent return (the maximum fine is 10,000 per penalty) plus cost. (Section 523.

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