||Upon written request before the filing deadline, the Department of Revenue may grant an extension of up to 60 days. The company requesting a filing extension must indicate reasonable cause. Penalties are added onto the assessed valuation for late filing or incomplete filing. The penalty imposed is 5% for each 30 days, not to exceed 10%. Failure to file results in a 25% penalty. There is no statutory provision to allow for filing extensions for railcar companies.