FL – Interest rates for first half of 2025 announced

The floating interest rate applicable to taxes administered by the Florida Department of Revenue on underpayments (deficiencies) and late payments for January 1, 2025, through June 30, 2025, is 12%. Interest rates on underpayments may not exceed 12%. The interest rate on overpayments of tax for the same time period is 11%. Interest rates on overpayments may not exceed 11% except for corporate income tax. The interest rate on overpayments of corporate income tax is 12% for the same time period. Interest applies to aviation fuel taxes, communications services tax, corporate income tax, documentary stamp tax including surtaxes, estate tax, gross receipts tax on dry-cleaning facilities, gross receipts tax on utility services, insurance premium tax and related taxes and levies, intangible personal property taxes, lead-acid battery and waste tire fees, local option convention development taxes, food and beverage taxes, and tourist development and tourist impact taxes, Miami-Dade County Lake Belt Area fees, motor fuel and diesel fuel taxes, motor vehicle warranty fees, prepaid wireless fee, pollutants taxes, reemployment tax, rental car surcharge, sales and use tax including discretionary sales surtax, and severance taxes. Interest on overpayments of tax is not applicable to reemployment tax. In general, interest on overpayments begins to accrue on the 91st day after the department receives a completed application for refund. Tax Information Publication, No. 24ADM-04, Florida Department of Revenue, November 6, 2024