- Interest Rates and Calculation
- Publication 58 has full and current information on how the Utah State Tax Commission assesses penalties and interest on Utah tax returns.
- Utah Codes §59-1-401 and §59-1-402 have additional information about penalties and interest.
Interest Rates and Calculation
Interest is calculated using the number of calendar days from the original due date of the return until the tax is paid. Interest can be calculated using this formula:
(unpaid tax) x (interest rate) x (number of days) ÷ 365 = Amount of Interest Due
Interest Rates
Note: payments are applied first to penalties, secondly to interest and lastly to tax. See Rule R861-1A-18.
| Calendar Year | Interest Rate |
|---|---|
| 2024 | 7% (.07) |
| 2023 | 5% (.05) |
| 2021-2022 | 2% (.02) |
| 2019-2020 | 4% (.04) |
| 2017-2018 | 3% (.03) |
| 2012-2016 | 2% (.02) |
| 2010-2011 | 3% (.03) |
| 2009 | 5% (.05) |
| 2007-2008 | 7% (.07) |
| 2006 | 6% (.06) |
| 2005 | 4% (.04) |
| 2004 | 3% (.03) |
| 2003 | 5% (.05) |
| 2002 | 6% (.06) |
| 2001 | 8% (.08) |
| 1999-2000 | 7% (.07) |
| 1995-1998 | 8% (.08) |
| Oct 12, 1993 – Dec 31, 1994 | 6% (.06) |
| Before Oct 12, 1993 | 12% (.12) |
Taxpayer Access Point (TAP) will be upgraded Friday, December 11 at 5:00pm through Monday, December 14 at 7:00am. TAP will be unavailable during this time.