Release 18.3.0.0 reflects the following changes effective July 1, 2018:

• Alaska changed from 7.50% to 7.75% compounded quarterly for both underpayments and overpayments.
• Illinois changed from 4.00% to 4.50% simple interest for both underpayments and overpayments.
• Michigan changed from 5.15% to 5.41% simple interest for both underpayments and overpayments. Continue reading →

Release 18.2.0.0 reflects the following changes effective April 1, 2018:

• Alaska changed from 7.25% to 7.50% compounded quarterly for both underpayments and overpayments.
• Alabama changed from 4.00% to 5.00% simple interest for both underpayments and overpayments.
• Arizona changed from 4.00% to 5.00% compounded annually for both underpayments and overpayments.
• Federal changed from 4.00% to 5.00% compounded daily for underpayments and 3.00% to 4.00% compounded daily for overpayments. Continue reading →

Note: Because of a minor bug in 18.1.0.0, we released 18.1.0.1 after the earlier version was online for a few hours. Read more

Both Release 18.1.0.0 and 18.1.0.1 reflect the following changes effective January 1, 2018:

• Alaska reverted to a single rate for all corporate income taxes and converted calculation of non-Oil and Gas Production to quarterly compounding. The interest rate was set at 7.25%.
• Georgia changed from 6.75% to 7.50% for both underpayments and overpayments. Continue reading →

This release adjusts the calculation of non-oil and gas production interest for the State of Alaska. Previously, Instant Interest calculated simple interest from January 1, 2014, forward based on the tax due, amounts paid, and interest accrued as of that date. However, after conferring with the Alaska Department of Revenue, we have modified the calculation to use only the original tax amount due and the amounts paid. Continue reading →

This release reflects the following changes:

• Effective October 1:
  • Missouri changed its refund rate from 0.7% to 0.8%.

• Effective January 1, 2018:
  • Idaho will change its rate from 3.0% to 4.0%.
  • Michigan will change its rate from 4.70% to 5.15%.

This release reflects the following changes:

• Effective July 1:
  • Alaska changed from 4.50% to 4.75% for non-oil and gas production; 8.50% to 8.75% for oil and gas production,
  • California changed from 0.00% to 1.00% for overpayments. Continue reading →

This release reflects the following changes:

• Effective April 1:
  • Alaska 4.25% to 4.50% for non-oil and gas production; 8.25% to 8.50% for oil and gas production,
  • Missouri refund rate from 0.60% to 0.70%. Continue reading →

In the release the effective date of due date changes was adjusted back one day.

The IRS changed the due date for C Corporation returns from March 15 to April 15. This caused a ripple effect among other tax jurisdictions we track. As a result, this interim release contains changes to the due dates for the following jurisdictions:

To April 15:

• Alabama,
• Alaska (see note below)
• California,
• District of Columbia,
• Federal, Continue reading →

This release reflects the following rate changes effective January 1, 2017:

• Alaska from 4.00% to 4.25%
  Note: Alaska also implemented a new elevated rate of 8.25% compounded quarterly for underpayments on oil and gas production.
• California from 3.00% to 4.00%
• Colorado from 6.00% to 7.00%. Continue reading →