Updated October 28, 2016. Exterior walls can be finished with a wide array of materials and techniques. Exterior wall finishes can produce significant savings for the contractor as well as for the building occupant and there are many options that will protect you from fire, heat, snow and that can save some money to you.
When Is Penalty Interest Payable? Penalty interest is payable when money is due, but is not paid by the due date. This means that late payment of deposit or late payment of the balance of the purchase price at settlement will usually give rise to an obligation to pay penalty interest.
If you file and pay late, penalty is due at the rate of one percent per month to a maximum of twenty-five percent of the tax due. Interest is also due at the annual rate of 1 percent above the current prime rate. The interest rate is adjusted on January 1 and July 1 of each year.