Skip menu navigation
Home » Taxes » Tax Information Publications

TIP #01C01-05
DATE ISSUED: 12/01/01

Corporate Income Tax and Franchise Tax Interest Rate Is 7 Percent
For the Period January 1, 2002, Through June 30, 2002

Florida law provides a floating rate of interest on corporate income tax and emergency excise tax underpayments and overpayments for taxable years ending on or after December 31, 1986. The rate of interest for the period January 1, 2002, through June 30, 2002, is 7 percent. The daily interest rate factor to be used for this 6-month period is .000191781. This rate is subject to change effective July 1, 2002.

For Taxable Years Ending On Or After December 31, 1986

The interest rates for all tax periods from January 1, 1987, through June 30, 2002, are:

Periods Underpayments &
Overpayments*
01/01/87 - 06/30/88
07/01/88 - 06/30/89
07/01/89 - 06/30/90
07/01/90 - 12/31/91
01/01/92 - 06/30/92
07/01/92 - 12/31/92
01/01/93 - 12/31/94
01/01/95 - 06/30/95
07/01/95 - 12/31/95
01/01/96 - 12/31/96
01/01/97 - 12/31/97
01/01/98 - 06/30/99
07/01/99 - 06/30/00
07/01/00 - 12/31/01
01/01/02 - 06/30/02
8 percent
9 percent
11 percent
10 percent
9 percent
7 percent
6 percent
7 percent
8 percent
9 percent
8 percent
9 percent
8 percent
9 percent
7 percent

*Note: For taxable years ending on or after December 31, 1986, no interest is allowed if an overpayment of tax is refunded or credited within three months after the date the taxpayer files a written notice with the Department.



FOR MORE INFORMATION

This document is intended to alert you to the requirements contained in Florida laws and administrative rules. It does not by its own effect create rights or require compliance.

For forms and other information, visit our site at www.myflorida.com/dor. Or call Taxpayer Services, Monday through Friday, 8:00 a.m., to 7:00 p.m., ET, at 800-352-3671 (for Florida residents only), or 850-488-6800

Hearing- or speech-impaired persons should call our TDD at 1-800-367-8331 or 850-922-1115.

For a detailed written response to your questions, write the Florida Department of Revenue, Taxpayer Services, 1379 Blountstown Highway, Tallahassee, FL 32304-2716.

To receive a fax copy of a form, call 850-922-3676 from your fax machine telephone.