Georgia Sales Tax Guide
Chapter 7: How to manage late Georgia sales tax return filing
Hopefully you don't need to worry about this chapter because you're getting your Georgia sales tax filing and remittance done on time and submitted without incident. However, in the real world, mistakes happen. In this chapter, we'll talk about how to avoid costly penalties and fines if you've missed your assigned filing deadline.What do I do if I missed my Georgia sales tax filing deadline?
The first thing to do is get your return filed. This is definitely one of those situations where things are "better late than never." As long as you don't submit your tax filing paperwork, or hold on to the tax dollars you've collected, you may be accruing fines and interest. It's always best to get your filing done and deal with any penalties and interest payments later.What penalties and interest payments are imposed by the Georgia Department of Revenue?
A late payment penalty of 5% of the tax due (or $5, whichever is greater) is due for each tax type on the delinquent return for each month or fraction that the return is delinquent up to 25% or $25, whichever is greater.
An interest rate of 1% per month or fractional part thereof is charged on any unpaid tax from the due date until paid in full.If I acquire a business, am I responsible for any outstanding sales tax debts, penalties, and interest?
Yes! If you are acquiring a business, it is strongly recommended that you contact the Georgia Department of Revenue and inquire about the current state of the potential acquisition. Once you've purchased the business, you will be held responsible for any and all outstanding Georgia sales and use tax liability.