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Prepaid Gasoline Rate Change
 
Date: July 9, 2008

Program: MI Sales Tax Express Program

Subject: MI Sales Tax 2008 interest rate change

Dear TaxTime USA, Inc. Customer,

The interest rate due on underpayments/overpayments to State of Michigan has been changed due to Revenue Administrative Bulletin (RAB) 2008-2.  The interest rate has been reduced from 9.2% to 7.9% effective for the period beginning July 1, 2008  through December 31, 2008.  To change the interest rate in MI Sales Tax Express 2008:

1.       From within MI Sales Tax Express 2008 click on: Setup

2.       Click on Configuration

3.       Click on Defaults

4.       In the Annual Interest Rate field 7/1/08 – 12/31/08 change rate to 7.90

5.       Click OK

http://www.michigan.gov/documents/taxes/2008-2_233610_7.pdf