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 |
| 2023 |
0.5% |
| 2022 |
0.3% |
|
2021
|
0.5% |
| 2020 |
0.5% |
| 2019 |
0.5% |
| 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.