The Missouri Department of Revenue recently published updated interest rates for refunds and delinquencies for 2021. These rates apply to tax payments due to the Department, or refunds that are due to the taxpayer during the taxable year. They are based on the prime rates charged by financial institutions and are effective for the applicable calendar year or quarter.
For calendar year 2021, the interest rate for delinquencies will drop to 3% (from 5% in 2020), and the interest rate for refunds will also drop to 1.2% for the first quarter of calendar year 2021.
To review these rates and the historical rates for prior years, please click here to visit the Missouri Department of Revenue’s website.
