Pennsylvania Code › Title 61 - REVENUE › Part I - Department of Revenue › Subpart A - General Provisions › Chapter 4 - INTEREST › Section 4.2 - Rate of interest

Current through Register Vol. 54, No. 28, July 13, 2024
(a)
General.
The annual rate of interest is the rate established
				  by the Secretary of the Treasury of the United States under the IRC which is in
				  effect on January 1 of a calendar year without regard to changes in the Federal
				  rate during the year. The Secretary will annually certify the applicable rate
				  of interest and recommend the certification be published in the
Pennsylvania Bulletin
and be codified in subsections
				  (b)-(u).
(b)
Rate.
The following rates have been certified by the Secretary: 1982-20%, 1983-16%,
				  1984-11%, 1985-13%, 1986-10%, 1987-9%, 1988-11%, 1989-11%, 1990-11%, 1991-11%,
				  1992-9%, 1993-7%, 1994-7%, 1995-9%, 1996-9%, 1997-9%, 1998-9%, 1999-7%,
				  2000-8%, 2001-9%, 2002-6%, 2003-5%, 2004-4%, 2005-5%, 2006-7%, 2007-8%,
				  2008-7%, 2009-5%, 2010-4%, 2011-3%, 2012-3%, 2013-3%, 2014-3%, 2015-3%,
				  2016-3%, 2017-4%, 2018-4%, 2019-6%, 2020-5%, 2021-3%, 2022-3%.
(c) For 2004, all underpayments of tax will
				  have an interest rate of 4%, overpayments of tax imposed under Article III of
				  the TRC will bear an interest rate of 4%, all other overpayments will bear an
				  interest rate of 2%.
(d) For 2005,
				  all underpayments of tax will have an interest rate of 5%, overpayments of tax
				  imposed under Article III of the TRC will bear an interest rate of 5%, all
				  other overpayments will bear an interest rate of 3%.
(e) For 2006, all underpayments of tax will
				  have an interest rate of 7%, overpayments of tax imposed under Article III of
				  the TRC will bear an interest rate of 7%, all other overpayments will bear an
				  interest rate of 5%.
(f) For 2007,
				  all underpayments of tax will have an interest rate of 8%, overpayments of tax
				  imposed under Article III of the TRC will bear an interest rate of 8%, all
				  other overpayments will bear an interest rate of 6%.
(g) For 2008, all underpayments of tax will
				  have an interest rate of 7%, overpayments of tax imposed under Article III of
				  the TRC will bear an interest rate of 7%, all other overpayments will bear an
				  interest rate of 5%.
(h) For 2009,
				  all underpayments of tax will have an interest rate of 5%, overpayments of tax
				  imposed under Article III of the TRC will bear an interest rate of 5%, all
				  other overpayments will bear an interest rate of 3%.
(i) For 2010, all underpayments of tax will
				  have an interest rate of 4%, overpayments of tax imposed under Article III of
				  the TRC will bear an interest rate of 4%, all other overpayments will bear an
				  interest rate of 2%.
(j) For 2011,
				  all underpayments of tax will have an interest rate of 3%, overpayments of tax
				  imposed under Article III of the TRC will bear an interest rate of 3%, all
				  other overpayments will bear an interest rate of 1%.
(k) For 2012, all underpayments of tax will
				  have an interest rate of 3%, overpayments of tax imposed under Article III of
				  the TRC will bear an interest rate of 3%, all other overpayments will bear an
				  interest rate of 1%.
(l) For 2013,
				  all underpayments of tax will have an interest rate of 3%, overpayments of tax
				  imposed under Article III of the TRC will bear an interest rate of 3%, all
				  other overpayments will bear an interest rate of 1%.
(m) For 2014, all underpayments of tax will
				  have an interest rate of 3%, overpayments of tax imposed under Article III of
				  the TRC will bear an interest rate of 3%, all other overpayments will bear an
				  interest rate of 1%.
(n) For 2015,
				  all underpayments of tax will have an interest rate of 3%, overpayments of tax
				  imposed under Article III of the TRC will bear an interest rate of 3%, all
				  other overpayments will bear an interest rate of 1%.
(o) For 2016, all underpayments of tax will
				  have an interest rate of 3%, overpayments of tax imposed under Article III of
				  the TRC will bear an interest rate of 3%, all other overpayments will bear an
				  interest rate of 1%.
(p) For 2017,
				  all underpayments of tax will have an interest rate of 4%, overpayments of tax
				  imposed under Article III of the TRC will bear an interest rate of 4%, all
				  other overpayments will bear an interest rate of 2%.
(q) For 2018, all underpayments of tax will
				  have an interest rate of 4%, overpayments of tax imposed under Article III of
				  the TRC will bear an interest rate of 4%, all other overpayments will bear an
				  interest rate of 2%.
(r) For 2019,
				  all underpayments of tax will have an interest rate of 6%, overpayments of tax
				  imposed under Article III of the TRC will bear an interest rate of 6%, all
				  other overpayments will bear an interest rate of 4%.
(s) For 2020, all underpayments of tax will
				  have an interest rate of 5%, overpayents of tax imposed under Article III of
				  the TRC will bear an interest rate of 5%, all other overpayments will bear an
				  interest rate of 3%.
(t) For 2021,
				  all underpayments of tax will have an interest rate of 3%, overpayments of tax
				  imposed under Article III of the TRC will bear an interest rate of 3%, all
				  other overpayments will bear an interest rate of 1%.
(u) For 2022, all underpayments of tax will
				  have an interest rate of 3%, overpayments of tax imposed under Article III of
				  the TRC will bear an interest rate of 3%, all other overpayments will bear an
				  interest rate of 1%.
This section cited in 61 Pa. Code §
												35.2 (relating to interest,
						additions, penalties, crimes and
						offenses).