Interest Rates

Delinquencies and Overpayments

2023

The interest rate on delinquent tax payments will now be based on tax type.  For those tax types considered “trust fund” taxes, the interest rate has been set at eighteen percent (18%) per annum. For those tax types not considered “trust fund” taxes, the interest rate has been set at twelve percent (12%) per annum.  The rate so set will be in effect for the calendar year 2023. Interest on overpayments for the calendar year 2023 shall be at the rate of six and one-quarter percent (6.25%) per annum.

2022

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 2022. Interest on overpayments for the calendar year 2022 shall be at the rate of three and one-quarter percent (3.25%) per annum.

2021

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 2021. Interest on overpayments for the calendar year 2021 shall be at the rate of three and one-quarter percent (3.25%) per annum.

2020

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 2020. Interest on overpayments for the calendar year 2020 shall be at the rate of five percent (5.00%) per annum.

2019

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 2019. Interest on overpayments for the calendar year 2019 shall be at the rate of five and one-quarter percent (5.25%) per annum.

2018

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 2018. Interest on overpayments for the calendar year 2018 shall be at the rate of four and one-quarter percent (4.25%) per annum.

2017

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 2017. Interest on overpayments for the calendar year 2017 shall be at the rate of three and one-half percent (3.50%) per annum.

2016

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 2016. Interest on overpayments for the calendar year 2016 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.

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.

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.

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.

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.

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.

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.

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.

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.

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

Note: Rates are based on formulas set in statute. (See R.I. Gen. Laws §§ 44-1-7 and 44-1-7.1.)

Neena S. Savage, Esq.

Rhode Island Tax Administrator

October 8, 2021