Asked by T
Sarapiona filed her 2024 California tax return and paid her balance due of $500 on December 30, 2025. The original due date of her California return was April 15, 2025. The Franchise Tax Board will assess a late filing penalty of what amount?
$125
$135
$200
$500
All Answers 1
Answered by
GPT-5 mini
AI
$125
Explanation: The California failure‑to‑file penalty is 5% of the tax due for each month (or fraction) the return is late, up to a maximum of 25%. Sarapiona filed well past five months late (Apr 15 → Dec 30), so the cap applies: 25% × $500 = $125.
Explanation: The California failure‑to‑file penalty is 5% of the tax due for each month (or fraction) the return is late, up to a maximum of 25%. Sarapiona filed well past five months late (Apr 15 → Dec 30), so the cap applies: 25% × $500 = $125.
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