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Interest Rates
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The table below shows the Minnesota Department of Revenue's interest rates for recent years.
| Year | 2019 | 2017 - 2018 | 2010 - 2016 | 2009 |
|---|---|---|---|---|
| Interest Rate | 5% | 4% | 3% | 5% |
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 Minnesota Income Tax | On unpaid tax plus penalty from the regular due date (April 15) until paid in full. | 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's Property Tax Refund
|
Never.
|
Not issued within one of the following dates, whichever is later:
|
|
Form M1PRX, Amended Homestead Credit Refund (for Homeowners) and Renter's 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:
|