Maine Releases Interest Rates for 2021

Robert Beck
November 9, 2020

Maine recently released its interest rates for calculating interest on overdue payments owed by taxpayers to Maine Revenue Services (MRS), as well as to calculate interest on overdue refunds owed by MRS to taxpayers. The previous rates for Calendar Year 2020 were 7% annually broken down to 0.5833% monthly.

The rates for Calendar Year 2021 are set at 5% annually with a monthly broken down rate of 0.4167% monthly.

To view the MRS Interest Rates page, click here

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Robert Beck

Robert Beck is a Junior Regulatory Counsel at Sovos Compliance. As part of the Regulatory Analysis team, his main areas of focus are state and federal tax withholding, and the Affordable Care Act (ACA). Robert is a member of the Massachusetts Bar and received his J.D. from New England Law | Boston and his B.A. in Justice from University of Alaska Fairbanks.
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