Current through Register Vol. 54, No. 37, September 14, 2024
Section 4.2 - Rate of interest(a)General. The annual rate of interest is the rate established by the Secretary of the Treasury of the United States under the IRC which is in effect on January 1 of a calendar year without regard to changes in the Federal rate during the year. The Secretary will annually certify the applicable rate of interest and recommend the certification be published in the Pennsylvania Bulletin and be codified in subsections (b)-(u).(b)Rate. The following rates have been certified by the Secretary: 1982-20%, 1983-16%, 1984-11%, 1985-13%, 1986-10%, 1987-9%, 1988-11%, 1989-11%, 1990-11%, 1991-11%, 1992-9%, 1993-7%, 1994-7%, 1995-9%, 1996-9%, 1997-9%, 1998-9%, 1999-7%, 2000-8%, 2001-9%, 2002-6%, 2003-5%, 2004-4%, 2005-5%, 2006-7%, 2007-8%, 2008-7%, 2009-5%, 2010-4%, 2011-3%, 2012-3%, 2013-3%, 2014-3%, 2015-3%, 2016-3%, 2017-4%, 2018-4%, 2019-6%, 2020-5%, 2021-3%, 2022-3%.(c) For 2004, all underpayments of tax will have an interest rate of 4%, overpayments of tax imposed under Article III of the TRC will bear an interest rate of 4%, all other overpayments will bear an interest rate of 2%.(d) For 2005, all underpayments of tax will have an interest rate of 5%, overpayments of tax imposed under Article III of the TRC will bear an interest rate of 5%, all other overpayments will bear an interest rate of 3%.(e) For 2006, all underpayments of tax will have an interest rate of 7%, overpayments of tax imposed under Article III of the TRC will bear an interest rate of 7%, all other overpayments will bear an interest rate of 5%.(f) For 2007, all underpayments of tax will have an interest rate of 8%, overpayments of tax imposed under Article III of the TRC will bear an interest rate of 8%, all other overpayments will bear an interest rate of 6%.(g) For 2008, all underpayments of tax will have an interest rate of 7%, overpayments of tax imposed under Article III of the TRC will bear an interest rate of 7%, all other overpayments will bear an interest rate of 5%.(h) For 2009, all underpayments of tax will have an interest rate of 5%, overpayments of tax imposed under Article III of the TRC will bear an interest rate of 5%, all other overpayments will bear an interest rate of 3%.(i) For 2010, all underpayments of tax will have an interest rate of 4%, overpayments of tax imposed under Article III of the TRC will bear an interest rate of 4%, all other overpayments will bear an interest rate of 2%.(j) For 2011, all underpayments of tax will have an interest rate of 3%, overpayments of tax imposed under Article III of the TRC will bear an interest rate of 3%, all other overpayments will bear an interest rate of 1%.(k) For 2012, all underpayments of tax will have an interest rate of 3%, overpayments of tax imposed under Article III of the TRC will bear an interest rate of 3%, all other overpayments will bear an interest rate of 1%.(l) For 2013, all underpayments of tax will have an interest rate of 3%, overpayments of tax imposed under Article III of the TRC will bear an interest rate of 3%, all other overpayments will bear an interest rate of 1%.(m) For 2014, all underpayments of tax will have an interest rate of 3%, overpayments of tax imposed under Article III of the TRC will bear an interest rate of 3%, all other overpayments will bear an interest rate of 1%.(n) For 2015, all underpayments of tax will have an interest rate of 3%, overpayments of tax imposed under Article III of the TRC will bear an interest rate of 3%, all other overpayments will bear an interest rate of 1%.(o) For 2016, all underpayments of tax will have an interest rate of 3%, overpayments of tax imposed under Article III of the TRC will bear an interest rate of 3%, all other overpayments will bear an interest rate of 1%.(p) For 2017, all underpayments of tax will have an interest rate of 4%, overpayments of tax imposed under Article III of the TRC will bear an interest rate of 4%, all other overpayments will bear an interest rate of 2%.(q) For 2018, all underpayments of tax will have an interest rate of 4%, overpayments of tax imposed under Article III of the TRC will bear an interest rate of 4%, all other overpayments will bear an interest rate of 2%.(r) For 2019, all underpayments of tax will have an interest rate of 6%, overpayments of tax imposed under Article III of the TRC will bear an interest rate of 6%, all other overpayments will bear an interest rate of 4%.(s) For 2020, all underpayments of tax will have an interest rate of 5%, overpayents of tax imposed under Article III of the TRC will bear an interest rate of 5%, all other overpayments will bear an interest rate of 3%.(t) For 2021, all underpayments of tax will have an interest rate of 3%, overpayments of tax imposed under Article III of the TRC will bear an interest rate of 3%, all other overpayments will bear an interest rate of 1%.(u) For 2022, all underpayments of tax will have an interest rate of 3%, overpayments of tax imposed under Article III of the TRC will bear an interest rate of 3%, all other overpayments will bear an interest rate of 1%.The provisions of this §4.2 amended December 19, 1986, effective 1/1/1987, 16 Pa.B. 4908; amended December 18, 1987, effective 1/1/1988, 17 Pa.B. 5286; amended December 23, 1988, effective 1/1/1989, 18 Pa.B. 5680; amended November 24, 1989, effective 1/1/1990, 19 Pa.B. 5081; amended November 23, 1990, effective 1/1/1991, 20 Pa.B. 5870; amended December 27, 1991, effective 1/1/1992, 21 Pa.B. 6012; amended December 25, 1992, effective 1/1/1993, 22 Pa.B. 6142; amended December 31, 1993, effective 1/1/1994, 24 Pa.B. 81; amended December 23, 1994, effective 1/1/1995, 24 Pa.B. 6486; amended December 15, 1995, effective 1/1/1995, 25 Pa.B. 5788; amended December 27, 1996, effective 1/1/1997, 26 Pa.B. 6224; amended December 26, 1997, effective 1/1/1998, 27 Pa.B. 6866; amended December 25, 1998, effective 1/1/1999, 28 Pa.B. 6351; amended December 17, 1999, effective 1/1/2000, 29 Pa.B. 6377; amended December 15, 2001, effective 1/1/2001, 31 Pa.B. 6494; amended December 21, 2001, effective 1/1/2002, 31 Pa.B. 6990; amended December 13, 2002, effective 1/1/2003, 32 Pa.B. 6220; amended January 16, 2004, effective 1/1/2004, 34 Pa.B. 448; amended December 30, 2004, effective 1/1/2005, 35 Pa.B. 78; amended December 30, 2005, effective 1/1/2006, 35 Pa.B. 7067; amended December 29, 2006, effective 1/1/2007, 36 Pa.B. 8021; amended December 28, 2007, effective 1/1/2008, 37 Pa.B. 6970; amended January 2, 2009, effective 1/1/2009, 39 Pa.B. 103; amended December 24, 2009, effective 1/1/2010, 39 Pa.B. 7256; amended December 24, 2010, effective 1/1/2011, 40 Pa.B. 7443; amended December 30, 2011, effective 1/1/2012, 41 Pa.B. 7041; amended December 21, 2012, effective 1/1/2013, 42 Pa.B. 7775; amended December 27, 2013, effective 1/1/2014, 43 Pa.B. 7602; amended December 26, 2014, effective 1/1/2015, 44 Pa.B. 8063; amended January 8, 2016, effective 1/1/2016, 46 Pa.B. 297; amended December 23, 2016, effective 1/1/2017, 46 Pa.B. 8108; amended December 22, 2017, effective 1/1/2018, 47 Pa.B. 7789; amended December 28, 2018, effective 1/1/2019, 48 Pa.B. 7995; amended December 27, 2019, effective 1/1/2020, 49 Pa.B. 7631; amended December 25, 2020, effective 1/1/2021, 50 Pa.B. 7361; amended December 24, 2021, effective 1/1/2022, 51 Pa.B. 8028; amended December 23, 2022, effective 1/1/2023, 52 Pa.B. 7981. This section cited in 61 Pa. Code § 35.2 (relating to interest, additions, penalties, crimes and offenses).