(1) Delinquent Penalty. A delinquent penalty of 10 percent of the tax due, per month or portion of a month, will accrue on the governmental leasehold estates intangible tax and the nonrecurring intangible tax that is not paid on or before the due date. The delinquent penalty will not exceed 50 percent of the tax due.
    (2) Late Filing Penalty. A late filing penalty of 10 percent of the tax due, per month or portion of a month, will accrue on governmental leasehold estates intangible tax returns not filed on or before the due date. The late filing penalty will not exceed 50 percent of the tax due.
    (3) The combined penalties provided in subsections (1) and (2) will not exceed 10 percent of the tax due per month, or portion of a month, and is limited to 50 percent of the tax due.
    (4) Undervaluation Penalty. Governmental leasehold estate property which has been reported at an amount less than market value is subject to a specific undervaluation penalty of 10 percent of the tax due attributed to the undervaluation.
    (5)(a) Interest accrues at the rate of interest established pursuant to Florida Statutes § 213.235, and Fl. Admin. Code R. 12-3.0015 (prorated daily).
    (b) Interest is due based on the amount of tax paid after June 30 of the tax year regardless of any extension of time granted by the Department for paying the tax or filing a return. Interest accrues on the unpaid tax beginning July 1 of the tax year and is calculated through and including the date of payment.
Rulemaking Authority 199.202, 213.06(1) FS. Law Implemented 196.199(2)(b), 199.282, 213.235 FS. History-New 4-17-72, Amended 12-20-73, 9-27-76, 4-2-78, Formerly 12C-2.07, Amended 11-21-91, 5-18-93, 4-2-00, 10-9-01, 5-4-03, 1-28-08.