Tax Department Releases Interest Rates for
10/1/01 - 12/31/01

    

Interest rates paid on overpayments or refunds or assessed on late payments or underpayments, are established quarterly by the Tax Department. Legal requirements dictate the announcement of the rates even if there are no changes from the previous quarter. Due to financial constraints, the Department is using the media, rather than individual mailings to practitioners, to provide notice. The rate associated with each tax, effective until December 31, 2001, is as follows:

To view prior period interest rates, click HERE.

Period 10/1/01 - 12/31/01 Interest Rate Per Annum Compounded Daily Tax Refunds  Late Payments and Assessments Alcoholic Beverage  6%  7% Beverage Containers 6%  12% Boxing & Wrestling 6%  7% Cigarette NA 7% Corporation 6%  7% Diesel Motor Fuel  6%  7% Estate  6%  6% Fuel Use Tax 12%  12% Generation-Skipping Transfer 6%  6% Gift  6%  6% Hazardous Waste  6%  15% Highway Use  6%  7% Income 6%  6% Lubricating Oil 6%  12% Mortgage Recording 6%  7% Motor Fuel 6%  7% Petroleum Business 6%  7% Real Estate Transfer 6%  7% Real Property Transfer Gains 6%  7% Sales and Use  6%   12% Tobacco Products  NA 7% Withholding   6%  7%

 

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Last Modified August 20, 2001