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MI Sales Tax Interest Rate Change

Program: MI Sales Tax Express Program

Subject: MI Sales Tax interest rate change

The interest rate due on underpayments/overpayments to State of Michigan has been changed due to Revenue Administrative Bulletin (RAB) 2020-5. The interest rate has been decreased from 6.4% to 5.63% effective for the period beginning July 1, 2020 through December 31, 2020. To change the interest rate in MI Sales Tax Express 2020:

1. From within MI Sales Tax Express 2019 click on Setup
2. Click on Configuration
3. Click on Defaults
4. In the Annual Interest Rate field 7/1/20 - 12/31/20 change rate to 5.63
5. Click OK

For more information please see
RAB2020-5