What is the penalty for late payment of taxes in Missouri?

The penalty for late payment of taxes in Missouri varies depending on the specific tax type and circumstances. Generally, if the tax owed is not paid by the due date, a late payment penalty of 5% of the unpaid amount is imposed. Additionally, interest accrues on the unpaid balance at a rate determined by law. If the failure to pay is deemed fraudulent, the penalty increases significantly to 50% of the unpaid tax. However, the Department of Revenue also offers a payment plan option for taxpayers unable to pay in full, which may help avoid or reduce penalties. To determine the exact penalty for late payment or for further information, it is recommended to consult the Missouri Department of Revenue's website or contact their customer service.