Penalties and Interest
(a)Penalties . A Withholding Agent that fails to meet its…#
(a) Penalties . A Withholding Agent that fails to meet its withholding obligation shall be subject to the penalties for failure to withhold that apply under M.G.L. c. 62B and penalties imposed under M.G.L. c 62C. The Withholding Agent is not liable for penalties if the tax due as a result of the Transfer is paid by the original or extended due date of the Transferor’s return for the taxable year in which the Transfer occurred or if the Withholding Agent fails to meet its withholding obligation because it relied in good faith on the Transferor’s Certification.
(b)Interest . If any amount of withholding is not paid to…#
(b) Interest . If any amount of withholding is not paid to the Commissioner on or before the due date of the Transferor’s tax return on which the gain is reported pursuant to M.G.L. c. 62C, interest shall be assessed on the amount that should have been withheld as set forth in 830 CMR 62B.4(3)(c), or on the amount that should have been withheld as set forth in 830 CMR 62B.3(3)(d) if a Transferor’s Certification with an alternative withholding calculation election was filed within ten days of Closing, at the rate established under M.G.L. c. 62C, § 32 computed from the due date of the withholding return to the date the tax is paid.
REGULATORY AUTHORITY 830 CMR 62B.2.4: M.G.L. c. 62B; M.G.L. c. 14, § 6(1); M.G.L. c. 62C, § 3
REGULATORY HISTORY Date of Promulgation: 8/15/25
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