Instant Interest Release Notes Version 21.1.0.0

The following changes are implemented in this version of Instant Interest effective January 1, 2021:

  • Florida changed from 9.00% to 7.00% for both underpayments and overpayments.
  • Georgia changed from 7.75% to 6.25% for both underpayments and overpayments.
  • Iowa changed from 7.00% to 6.00% for both underpayments and overpayments.
  • Louisiana changed from 8.75% to 6.50% for underpayments and from 5.75% to 3.50% for overpayments.
  • Maine changed from 7.00% to 5.00% for both underpayments and overpayments.
  • Michigan changed from 5.63% to 4.25% for both underpayments and overpayments.
  • Minnesota changed from 5.00% to 3.00% for both underpayments and overpayments.
  • Missouri changed from 5.00% to 3.00% for underpayments and from 1.80% to 1.20% for overpayments.
  • Montana changed from 8.00% to 5.00% for both underpayments and overpayments (based on email from Montana Department of Revenue).
  • Nebraska changed from 5.00% to 3.00% for both underpayments and overpayments.
  • Ohio changed from 5.00% to 3.00% for both underpayments and overpayments.
  • Oregon changed from 6.00% to 4.00% for both underpayments and overpayments.
  • Pennsylvania changed from 5.00% to 3.00% for underpayments and from 3.00% to 1.00% for overpayments.
  • Texas changed from 5.75% to 4.25% for underpayments and from 2.181% to 0.551% for overpayments.
  • Vermont changed from 7.50% to 4.00% for underpayments and from 5.50% to 4.00% for overpayments.
  • West Virginia changed from 9.25% to 7.75% for underpayments and from 7.75% to 6.25% for overpayments.

The following changes were implemented in prior versions effective January 1, 2021:

  • Colorado changed from 9.00% to 6.00% for both underpayments and overpayments.
  • Idaho changed from 4.00% to 2.00% for both underpayments and overpayments.
  • Kansas changed from 6.00% to 4.00% for both underpayments and overpayments.
  • Kentucky changed from 7.00% to 5.00% for underpayments and from 3.00% to 1.00% for overpayments.
  • New Hampshire changed from 7.00% to 5.00% for underpayments and from 4.00% to 2.00% for overpayments.
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