Interest Rates

Interest is due on delinquent business tax and is also payable on business tax refunds. Additional interest accrues with each month in delinquency. The interest rate is re-calculated annually to reflect the average Federal short-term rate plus 3 percentage points. 

Tax Year Monthly Interest Rate
2018 0.4%
2017 0.3%
2016 0.3%
2015 0.3%
2014 0.3%
2013 0.3%
2012 0.3%
2011 0.3%
2010 0.4%
2009 0.5%
2008 0.7%
2007 0.7%
2006 0.6%
2005 0.5%
2004 0.4%
2003 0.5%
     2002                          0.6%

For 2001 and prior years, interest accrued at a rate of 1.25% per month.