Timber Yield Tax – Interest Rates
The Timber Yield Tax requires that the interest rate shall be set equal to the underpayment rate established under Section 6621(a)(2) of the Internal Revenue Code, adjusted on a semiannual basis on January 1 and July 1 of each year. Interest shall accrue on a daily basis.
Note: Beginning January 1, 2022, interest will be calculated on a monthly basis. For more information on monthly interest rates, you can visit the Interest Rates page.
If you need assistance calculating the interest due, please contact us.
| Period Beginning – Ending |
"Debit" Rate for Deficiencies | "Credit" Rate for Refunds | Daily Factor |
|---|---|---|---|
| 07/01/21 – 12/31/21 | 3% | 3% | 0.0000821918 |
| 01/01/21 – 06/30/21 | 3% | 3% | 0.0000821918 |
| 07/01/20 – 12/31/20 | 5% | 5% | 0.0001369863 |
| 01/01/20 – 06/30/20 | 5% | 5% | 0.0001369863 |
| 07/01/19 – 12/31/19 | 6% | 6% | 0.0001643836 |
| 01/01/19 – 06/30/19 | 4% | 4% | 0.0001095890 |
| 07/01/18 – 12/31/18 | 4% | 4% | 0.0001095890 |
| 01/01/18 – 06/30/18 | 4% | 4% | 0.0001095890 |
| 07/01/17 – 12/31/17 | 4% | 4% | 0.0001095890 |
| 01/01/17 – 06/30/17 | 4% | 4% | 0.0001095890 |
| 07/01/16 – 12/31/16 | 3% | 3% | 0.0000821918 |
| 01/01/16 – 06/30/16 | 3% | 3% | 0.0000821918 |
| 07/01/15 – 12/31/15 | 3% | 3% | 0.0000821918 |
| 01/01/15 – 06/30/15 | 3% | 3% | 0.0000821918 |
| 07/01/14 – 12/31/14 | 3% | 3% | 0.0000821918 |
| 01/01/14 – 06/30/14 | 3% | 3% | 0.0000821918 |
| 07/01/13 – 12/31/13 | 3% | 3% | 0.0000821918 |
| 01/01/13 – 06/30/13 | 3% | 3% | 0.0000821918 |
| 07/01/12 – 12/31/12 | 3% | 3% | 0.0000821918 |
| 01/01/12 – 06/30/12 | 4% | 4% | 0.0001095890 |
| 07/01/11 – 12/31/11 | 3% | 3% | 0.0000821918 |
| 01/01/10 – 06/30/11 | 4% | 4% | 0.0001095890 |
| 07/01/09 – 12/31/09 | 5% | 5% | 0.0001369863 |
| 01/01/09 – 06/30/09 | 5% | 5% | 0.0001369863 |
| 07/01/08 – 12/31/08 | 7% | 7% | 0.0001917808 |
| 01/01/07 – 06/30/08 | 8% | 8% | 0.0002191781 |
| 07/01/06 – 12/31/06 | 7% | 7% | 0.0001917808 |
| 01/01/06 – 06/30/06 | 6% | 6% | 0.0001643836 |
| 07/01/05 – 12/31/05 | 5% | 5% | 0.0001369863 |
| 07/01/04 – 06/30/05 | 4% | 4% | 0.0001095890 |
| 07/01/03 – 06/30/04 | 5% | 5% | 0.0001369863 |
| 07/01/02 – 06/30/03 | 6% | 6% | 0.0001643836 |
| 01/01/02 – 06/30/02 | 7% | 7% | 0.0001917808 |
| 01/01/01 – 12/31/01 | 9% | 9% | 0.0002465753 |
- Applied daily when the tax payment is overdue or a refund is owed.