Florida law currently provides a floating rate of interest for late tax returns. The interest rate is updated on January 1st and July 1st of each year. There is no limit on the amount of interest that may accumulate on unpaid taxes.
The rates of interest on underpayments that remain unpaid as of November 1, 2003, and arose on or after January 1, 2000, increased by as much as 4 percent (rates are subject to a 12 percent cap) for prior periods.
Rates on underpayments, effective November 1, 2003
| Interest Period | Interest Rate |
| 01/01/00 - 12/31/00 | 12 percent |
| 01/01/01 - 12/31/01 | 12 percent |
| 01/01/02 - 06/30/02 | 11 percent |
| 07/01/02 - 06/30/03 | 09 percent |
| 07/01/03 - 12/31/03 | 08 percent |
| 01/01/04 - 12/31/04 | 08 percent |
| 01/01/05 - 06/30/05 | 08 percent |
| 07/01/05 - 12/31/05 | 09 percent |
| 01/01/06 - 06/30/06 |
10 percent |
| 07/01/06 - 12/31/06 |
11 percent |
| 01/01/07 - 06/30/07 |
12 percent |
|
07/01/07 - 12/31/07 |
12 percent |
|
01/01/08 - 06/30/08 |
12 percent |
|
07/01/08 - 12/31/08 |
11 percent |
|
01/01/09 - 06/30/09 |
09 percent |
|
07/01/09 - 12/31/09 |
08 percent |
| 01/01/10 - 06/30/10 | 07 percent |
| 07/01/10 - 12/31/10 | 07 percent |
Floating rates of interest for overpayments of tax made after December 31, 1999
| Interest Period | Interest Rate |
| 01/01/00 - 06/30/00 | 08 percent |
| 07/01/00 - 12/31/00 | 09 percent |
| 01/01/01 - 12/31/01 | 09 percent |
| 01/01/02 - 06/30/02 | 07 percent |
| 07/01/02 - 06/30/03 | 05 percent |
| 07/01/03 - 10/31/03 | 04 percent |
| 11/01/03 - 12/31/03 | 08 percent |
| 01/01/04 - 12/31/04 | 08 percent |
| 01/01/05 - 06/30/05 | 08 percent |
| 07/01/05 - 12/31/05 | 09 percent |
| 01/01/06 - 06/30/06 | 10 percent |
| 07/01/06 - 12/31/06 | 11 percent |
| 01/01/07 - 06/30/07 | 11 percent |
|
07/01/07 - 12/31/07 |
11 percent |
|
01/01/08 - 06/30/08 |
11 percent |
|
07/01/08 - 12/31/08 |
11 percent |
|
01/01/09 - 06/30/09 |
09 percent |
|
07/01/09 - 12/31/09 |
08 percent |
| 01/01/10 - 06/30/10 | 07 percent |
| 07/01/10 - 12/31/10 | 07 percent |
If you have any questions, please call 727-464-5007.