Texas Comptroller Issues 2021 Interest Rates on Taxes Owed, Refunds, Credits

The Texas Comptroller of Public Accounts Jan. 1 issued the 2021 interest rate for past due tax payments and tax credits and refunds for franchise, sales and use, property, and excise tax purposes. Past due taxes are charged interest beginning 61 days after the due date. The interest-owed rate for most taxes varies annually and is set at the prime rate plus 1 percent. Filed refund claims accrue credit interest at either the treasury pool rate or prime rate plus 1 percent, whichever is less. The comptroller provides: 1) the method to calculate interest due and earned; 2) interest rates ...