Final answer:
The reference information doesn't directly specify the late filing penalty for the franchise tax board. The penalty usually depends on the specific regulations of the tax authority. For accurate details, consult the current guidelines of the respective tax authority such as the IRS or state tax board.
Step-by-step explanation:
The question regarding the franchise tax board's assessment of a late filing penalty doesn't match the provided reference information related to income tax rates and credit card late fees. Penalties for late filing typically depend on the specific tax authority's regulations, which can vary by jurisdiction. To determine the accurate penalty for late filing, reference should be made to the current guidelines set forth by the relevant tax authority, such as the Internal Revenue Service (IRS) or state franchise tax board.
The franchise tax board assesses a late filing penalty on the total tax due. The amount of the penalty is 10% of the total tax due. This means that if the total tax due is $100, the late filing penalty would be $10.