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MEMO Revised Interest Chart Effective Oct. 1

  • September 10, 2020

MEMORANDUM

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

SUBJECT: Revised Interest Chart – Effective October 1, 2020

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 will remain at 3 percent for the upcoming fiscal 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 website 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, option 5.

Click here to download a PDF version of this memo.