50 ILCS 45/55

Current through Public Act 103-1052

Section 50 ILCS 45/55 - Late payment penalty

Late payment penalties may not exceed 5% of the tax due and not timely paid or remitted to the unit of local government. This penalty shall not apply if a failure to file penalty is imposed by the unit of local government. A local tax administrator may determine that the late payment was due to reasonable cause and abate the penalty.

50 ILCS 45/55

P.A. 91-920, eff. 1-1-01.