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Last Updated: 4/9/2018

Interest Rates

The table below shows the Minnesota Department of Revenue's interest rates for recent years.

Year 2017 - Current ​2010 - 2016 ​2009 ​2007 - 2008
​Interest Rate ​4% ​3% ​5% ​8%
 

How does the department charge and pay interest?

We charge and pay interest based on the type of tax return you file. For more information, see the table below.

If you file We charge interest We pay interest on refunds
Form M1, Individual Income Tax

​On unpaid tax plus penalty from the regular due date (April 15) until paid in full.

​Not issued within 90 days after the regular due date or 90 days after you filed, whichever is later.
Form M1X, Amended Individual Income Tax ​From the regular due date or from the date you filed your original return, whichever is later.
​Form M1PR, Homestead Credit Refund (for Homeowners) and Renter Property Tax Refund ​Never.

Not issued within one of the following dates, whichever is later:

  • 60 days after you filed your original return
  • Aug. 15 for renters or Sept. 30 for homeowners
Form M1PRX, Amended Homestead Credit Refund (for Homeowners) and Renter Property Tax Refund ​On the amount due from the date you received your original refund until paid in full.

​From one of the following dates, whichever is later:

  • 60 days after you filed your original return
  • Aug. 15 for renters or Sept. 30 for homeowners