Texas - Change in Refund Rate

As a result of Senate Bill 1570 passed in the 79th Regular Legislative Session, refund claims filed on or after September 1, 2005, accrue credit interest at either the Prime + 1 or the Treasury Pool rate, whichever is later. Refund claims filed before September 1, 2005, accrued credit interest at the Prime + 1 rate.

Instant Interest assumes that the refund claim was filed after September 1, 2005. For claims filed before September 1, 2005, you can use the Custom Calculation panel and enter the following rates and their respective interest rates:

01/01/2000 -   9.50 %

01/01/2001 - 10.50 %

01/01/2002 -   5.75 %

01/01/2003 -   5.25 %

01/01/2004 -   5.00 %

01/01/2005 -   6.25 %

01/01/2006 -   8.25 %

01/01/2007 -   9.25 %

Note: These rates are the same as the interest rates for underpayments, so it might be simpler to use the Easy Calculation tab and simply note the calculation is for a refund, not an underpayment.