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Interest Rates
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Individual Income Tax
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This table shows the Minnesota Department of Revenue's interest rates for recent years.
| Year | 2022 | 2021 | 2020 - 2019 | 2018 - 2017 | 2016 - 2010 |
|---|---|---|---|---|---|
| Interest Rate | 3% | 3% | 5% | 4% | 3% |
How Interest Applies for Individuals
We charge and pay interest based on the type of tax return you file.
| 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 18) 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 Minnesota Income Tax | On unpaid tax plus penalty from the regular due date (April 18) until paid in full. | From the regular due date or from the date you filed your original return, whichever is later. |
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Form M1PR, Homestead Credit Refund (for Homeowners) and Renter's Property Tax Refund
|
Never.
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Not issued within one of these dates, whichever is later:
|
|
Form M1PRX, Amended Homestead Credit Refund (for Homeowners) and Renter's Property Tax Refund
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On the amount due from the date you received your original refund until paid in full.
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From one of these dates, whichever is later:
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