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. NOTE: These rates do not apply with respect to the taxes imposed pursuant to 36 M.R.S., chapters 105 (municipal property taxes) and 115 (property taxes in the unorganized territory). See 36 M.R.S. §§ 505(4), 1602(5).
The annual rates are compounded monthly, calculated in monthly installments using a daily rate.
|
Effective dates
|
Annual rate
|
Daily rate
|
|---|---|---|
|
1/1/24 - 12/31/25 |
10% |
0.027397% |
|
1/1/23 - 12/31/23 |
7% |
0.019178% |
|
1/1/21 - 12/31/22 |
5% |
0.013700% |
|
1/1/20 - 12/31/20 |
7% |
0.019178% |
|
1/1/18 - 12/31/19 |
6% |
0.016438% |
|
1/1/10 - 12/31/17 |
7% |
0.019178% |
|
1/1/09 - 12/31/09 |
8% |
0.021919% |
|
1/1/07 - 12/31/08 |
12% |
0.032877% |
|
1/1/06 - 12/31/06 |
10% |
0.027397% |
|
1/1/05 - 12/31/05 |
8% |
0.021919% |
|
7/1/04 - 12/31/04 |
7% |
0.019178% |
|
1/1/04 - 7/1/04 |
6% |
0.016438% |
|
1/1/03 - 12/31/03 |
7% |
0.019178% |
|
1/1/02 - 12/31/02 |
8% |
0.021919% |
|
1/1/99 - 12/31/01 |
9% |
0.024658% |
|
1/1/97 - 12/31/98 |
10% |
0.027397% |
|
1/1/95 - 12/31/96 |
11% |
0.030137% |
|
1/1/93 - 12/31/94 |
10% |
0.027397% |
|
1/1/92 - 12/31/92 |
12% |
0.032877% |