Based on the information you entered, you have a balance due. Review the calculation summary. If the balance due amount is not paid by the due date, penalty and interest will be added. If your 2025 tax due (line 19 of Form K-40, less withholding and tax credits (excluding estimated tax payments made) is $500 or more, you may be subject to an estimated tax penalty - Refer to Schedule K-210. To continue, you must also answer the commercial farming and fishing question.
Interest
Compute interest at .6667% per month or 8% per annum (or portion thereof) from the original due date of the return.
Penalty
Compute penalty at 1% per month (or fraction thereof) from the original due date of the return.
Estimated Tax Penalty
An estimated tax penalty may be due if the total of your withholding (line 19 and tax credits lines 22 and 23) subtracted from Line 18 is $500 or more. Complete Schedule K-210 to find the penalty amount to enter.
There are two exceptions:
1) If your withholding and/or estimated payments equal or exceed 100% of the prior year's tax liability, or
2) If your withholding and/or estimated payments equal or exceed 90% of this year's total income tax
Commercial Farming and Fishing
If at least two-thirds of your income is from farming or fishing, you must select "yes".