Mlemm2012
New Member

Louisiana Late Payment Interest on Payroll Withholding, Deductible or Not?

Is the interest paid to Louisiana state for late withholding taxes on my payroll a deductible expense for my business? What about late interest paid on sales tax? So, I know the penalties can not be used as an expense, but is the interest I paid deductible? Can I please get a rev doc or some kind of legal doc stating the answer to this.