Title 48, Chapter 13, Section 79
(a) Each corporation subject to this article which fails to file
timely the returns required by this article shall become liable for
a penalty of 10 percent of the tax. The penalty shall be collected
in the same manner as the tax is collected. The commissioner shall
have the authority to extend the time for filing the return when
good cause for the extension is shown.
(b) Should the tax imposed by this article remain unpaid after the
date prescribed for payment, the delinquent corporation liable for
the tax shall be subject to and shall pay, in addition to other
penalties incurred, a penalty of 10 percent of the tax for failure
to pay the tax when due.
(c) Any tax imposed by this article which remains unpaid after the date prescribed for payment shall bear interest at the rate specified in Code Section 48-2-40 until paid. The interest shall be in addition to all other penalties prescribed by law and shall be collected in the same manner as the tax imposed by this article.