The Michigan Department of Treasury Oct. 29, issued a revenue administrative bulletin, establishing the annual rate of interest due on tax underpayments and overpayments for the period from Jan. 1, 2025, to June 30, 2025. Information in the bulletin includes: 1) a daily interest rate of .0002595 based on an adjusted annual rate of 9.47%; and 2) the interest rate will be added to a tax deficiency or an excessive claim for the specified period. [Mich. Dep’t of Treasury, Revenue Admin. Bull. 2024-16, 10/04/23]
This story was produced by Bloomberg Tax Automation, and edited by Bloomberg Tax staff.
Learn more about Bloomberg Tax or Log In to keep reading:
See Breaking News in Context
From research to software to news, find what you need to stay ahead.
Already a subscriber?
Log in to keep reading or access research tools and resources.