Interest Rates, 1992 to Present

 

Except for the taxes imposed pursuant to 36 M.R.S. chapter 105 (the collection of taxes by cities and towns), 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. See 36 M.R.S. § 186. Interest.
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

8%

0.6667%

1/1/10 - 12/31/10

7%

0.5833%

1/1/11 - 12/31/11

7%

0.5833%

1/1/12 - 12/31/12

7%

0.5833%

1/1/13 - 12/31/13

7%

0.5833%

1/1/14 - 12/31/14

7%

0.5833%

1/1/15 - 12/31/15

7%

0.5833%

1/1/16 - 12/31/16

7%

0.5833%

1/1/17 - 12/31/17

7%

0.5833%

1/1/18 - 12/31/18

6%

0.5000%