TO: County Probate Judges
County License Commissioners
Other License Issuing Officials
FROM: Alabama Department of Revenue
Business & License Tax Division
Severance & License Section
SUBJECT: Revised Interest Chart – Effective July 1, 2022
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 increase to 5 percent for the fourth quarter of this 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 webpage 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.