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Current interest rates

Interest rates are established quarterly by the Tax Department. The rate associated with each tax, is listed below. Rates are only effective for the time period specified.

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Period: 1/1/10 - 3/31/10
Interest rate per annum compounded daily

Commonly viewed tax types

Refunds Late payments & assessments
Income 3% 7.5%

Sales and Use

3% 14.5% *
Withholding 3% 8%
Corporation 3% 8%
All other tax types

Refunds Late payments & assessments
Alcoholic Beverage 3%  8%
Beverage Container Deposits 3% 8%
Boxing & Wrestling 3% 8%
Cigarette NA 8%
Diesel Motor Fuel 3% 8%
Estate 3% 7.5%
Fuel Use Tax 12% 12%
Generation-Skipping Transfer 3% 7.5%
Hazardous Waste 3% 15%
Highway Use 3% 8%
Metropolitan Commuter Transportation Mobility Tax 3% 7.5%
Mortgage Recording 3% 8%
Motor Fuel 3% 8%
Petroleum Business 3% 8%
Real Estate Transfer 3% 8%
Tobacco Products NA 8%
Waste Tire Fee 3% 8%
* The interest rate on sales tax assessments or late payments is required to be set at 14-1/2% for this quarter. However, where the Commissioner determines that the failure to pay or delay in payment is due to reasonable cause and not willful neglect, the Commissioner may impose interest at the corporation tax late payment and assessment rate. That rate is 8% for this quarter.
Last Modified: November 17, 2009