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Revised Privilege License Interest Rate Factor

  • September 12, 2017

MEMORANDUM

TO: County Probate Judges
County License Commissioners
License Inspectors
Other License Issuing Officials

FROM: Alabama Department of Revenue
Business & License Tax Division
Severance & License Section

SUBJECT: Revised Interest Chart – Effective October 1, 2017

Attached is the updated interest rate chart as required by Section 40-1-44, Code of Alabama, 1975. Per the Internal Revenue Service, the interest rate remains at 4 percent for the upcoming license year. Please destroy any previous charts issued and feel free to make copies to share, as needed. The updated interest chart will be posted on the Department’s webpage at https://revenue.alabama.gov/wp-content/uploads/2017/05/interestchart.pdf if you need to refer to it.

If you have any questions, you may contact our office at 334-353-7827.