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Interest Rates, 1992 to Present
| These rates are used to calculate interest on overdue payments owed by taxpayers to Maine Revenue Services, as well as to calculate interest on overdue refunds owed by MRS to taxpayers. |
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The annual rates are compounded monthly |
Effective dates |
Annual rate |
Monthly rate |
|
1/1/92 - 12/31/92 |
12% |
1.0000% |
|
1/1/93 - 12/31/94 |
10% |
0.8333% |
|
1/1/95 - 12/31/96 |
11% |
0.9167% |
|
1/1/97 - 12/31/98 |
10% |
0.8333% |
|
1/1/99 - 12/31/01 |
9% |
0.7500% |
|
1/1/02 - 12/31/02 |
8% |
0.6667% |
|
1/1/03 - 12/31/03 |
7% |
0.5833% |
|
1/1/04 - 7/1/04 |
6% |
0.5000% |
7/1/04 - 12/31/04 |
7% |
0.5833% |
|
1/1/05 - 12/31/05 |
8% |
0.6667% |
1/1/06 - 12/31/06 |
10% |
0.8333% |
1/1/07 - 12/31/07 |
12% |
1.0000% |
1/1/08 - 12/31/08 |
12% |
1.0000% |
1/1/09 - 12/31/09
1/1/10 - 12/31/10
1/1/11 - 12/31/11
1/1/12 - 12/31/12
1/1/13 - 12/31/13
|
|
0.6667%
0.5833%
0.5833%
0.5833%
0.5833%
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