Sec. 40. (1) Penalties and interest provided for under sections 23 and 24 of 1941 PA 122, MCL 205.23 and 205.24, shall be calculated on the balance of the tax due. (2) Interest on refunds shall accrue in accordance with section 30 of 1941 PA 122, MCL 205.30.
Mich. Comp. Laws § 205.240
Calculation of penalties and interest; accrual of interest on refunds
Add. 1993, Act 54, Imd
Official source: Michigan Legislature. Reproduced from public-domain Michigan statutes; confirm against the official source for the current text. Not legal advice.