The Minnesota Department of Revenue (DOR) Dec. 13 announced that the interest rate on past due individual income tax and penalties will increase to 8 percent in 2024 from 5 percent in 2023. The DOR charges interest from the time a tax debt is past due until it’s fully paid. Interest rates may change annually. The DOR also lists interest rates for prior years. [Minn. Dep’t of Revenue, Penalties & Interest for Individuals, 12/13/23]
Reference: View Source Document.
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