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Interest Rate Change

Delinquencies and Overpayments

2006

The interest rate on delinquent tax payments has been set at eighteen percent (18%) per annum. The rate so set will be in effect for the fourth quarter of calendar year 2006. Interest on overpayments for the third and fourth quarters of calendar year 2006 shall be at the rate of six and three-quarters percent (6.75%) per annum

2007

The interest rate on delinquent tax payments has been set at eighteen percent (18%) per annum. The rate so set will be in effect for the calendar year 2007. Interest on overpayments for the calendar year 2007 shall be at the rate of eight and one-quarter percent (8.25%) per annum.

2008

The interest rate on delinquent tax payments has been set at eighteen percent (18%) per annum. The rate so set will be in effect for the calendar year 2008. Interest on overpayments for the calendar year 2008 shall be at the rate of seven and three-quarters percent (7.75%) per annum.

2009

The interest rate on delinquent tax payments has been set at eighteen percent (18%) per annum. The rate so set will be in effect for the calendar year 2009. Interest on overpayments for the calendar year 2009 shall be at the rate of five (5.00%) per annum.

2010

The interest rate on delinquent tax payments has been set at eighteen percent (18%) per annum. The rate so set will be in effect for the calendar year 2010. Interest on overpayments for the calendar year 2010 shall be at the rate of three and one-quarter percent (3.25%) per annum.

2011

The interest rate on delinquent tax payments has been set at eighteen percent (18%) per annum. The rate so set will be in effect for the calendar year 2011. Interest on overpayments for the calendar year 2011 shall be at the rate of three and one-quarter percent (3.25%) per annum.

2012

The interest rate on delinquent tax payments has been set at eighteen percent (18%) per annum. The rate so set will be in effect for the calendar year 2012. Interest on overpayments for the calendar year 2012 shall be at the rate of three and one-quarter percent (3.25%) per annum.

2013

The interest rate on delinquent tax payments has been set at eighteen percent (18%) per annum. The rate so set will be in effect for the calendar year 2013. Interest on overpayments for the calendar year 2013 shall be at the rate of three and one-quarter percent (3.25%) per annum.

2014

The interest rate on delinquent tax payments has been set at eighteen percent (18%) per annum. The rate so set will be in effect for the calendar year 2014. Interest on overpayments for the calendar year 2014 shall be at the rate of three and one-quarter percent (3.25%) per annum.

2015

The interest rate on delinquent tax payments has been set at eighteen percent (18%) per annum. The rate so set will be in effect for the calendar year 2015. Interest on overpayments for the calendar year 2015 shall be at the rate of three and one-quarter percent (3.25%) per annum.

 

Note: Rates are based on formulas set in statute. (See Rhode Island General Laws § 44-1-7 and § 44-1-7.1.)

 

David M. Sullivan
Tax Administrator
October 20, 2014