Interest Table 01/04/2010

Similar documents
Income from U.S. Government Obligations

The table below reflects state minimum wages in effect for 2014, as well as future increases. State Wage Tied to Federal Minimum Wage *

Motor Vehicle Sales/Use, Tax Reciprocity and Rate Chart-2005

Annual Costs Cost of Care. Home Health Care

Checkpoint Payroll Sources All Payroll Sources

Kentucky , ,349 55,446 95,337 91,006 2,427 1, ,349, ,306,236 5,176,360 2,867,000 1,462

State Individual Income Taxes: Personal Exemptions/Credits, 2011

Termination Final Pay Requirements

Federal Registry. NMLS Federal Registry Quarterly Report Quarter I

Sales Tax Return Filing Thresholds by State

Pay Frequency and Final Pay Provisions

PAY STATEMENT REQUIREMENTS

Impacts of Prepayment Penalties and Balloon Loans on Foreclosure Starts, in Selected States: Supplemental Tables

AIG Benefit Solutions Producer Licensing and Appointment Requirements by State

Federal Rates and Limits

The Effect of the Federal Cigarette Tax Increase on State Revenue

STATE MINIMUM WAGES 2017 MINIMUM WAGE BY STATE

TA X FACTS NORTHERN FUNDS 2O17

# of Credit Unions As of March 31, 2011

Ability-to-Repay Statutes

Q309 NATIONAL DELINQUENCY SURVEY FROM THE MORTGAGE BANKERS ASSOCIATION. Data as of September 30, 2009

SECTION 109 HOST STATE LOAN-TO-DEPOSIT RATIOS. The Board of Governors of the Federal Reserve System, the Federal Deposit Insurance

Mutual Fund Tax Information

State Income Tax Tables

Union Members in New York and New Jersey 2018

Mutual Fund Tax Information

Q209 NATIONAL DELINQUENCY SURVEY FROM THE MORTGAGE BANKERS ASSOCIATION. Data as of June 30, 2009

Undocumented Immigrants are:

DFA INVESTMENT DIMENSIONS GROUP INC. DIMENSIONAL INVESTMENT GROUP INC. Institutional Class Shares January 2018

DATA AS OF SEPTEMBER 30, 2010

Required Training Completion Date. Asset Protection Reciprocity

The Costs and Benefits of Half a Loaf: The Economic Effects of Recent Regulation of Debit Card Interchange Fees. Robert J. Shapiro

Minimum Wage Laws in the States - April 3, 2006

Residual Income Requirements

What is your New Financing Statement Fee? What is your Amendment Fee (include termination fee if a different amount)?

MEDICAID BUY-IN PROGRAMS

# of Credit Unions As of September 30, 2011

Q Homeowner Confidence Survey Results. May 20, 2010

J.P. Morgan Funds 2018 Distribution Notice

STANDARD MANUALS EXEMPTIONS

Fingerprint, Biographical Affidavit and Third-Party Verification Reports Requirements

MainStay Funds Income Tax Information Notice

IMPORTANT TAX INFORMATION

State Corporate Income Tax Collections Decline Sharply

ATHENE Performance Elite Series of Fixed Index Annuities

Understanding Oregon s Throwback Rule for Apportioning Corporate Income

Recourse for Employees Misclassified as Independent Contractors Department for Professional Employees, AFL-CIO

Child Care Assistance Spending and Participation in 2016

NOTICE TO MEMBERS CANADIAN DERIVATIVES CORPORATION CANADIENNE DE. Trading by U.S. Residents

Out-of-state collectors may be able to obtain limited license or may bypass license requirement. Call collection agency administrator.

Important 2008 Tax Information Regarding Your Mutual Funds

Fingerprint and Biographical Affidavit Requirements

Mapping the geography of retirement savings

Introduction to the U.S. K-12 Instructional Materials Industry

Consumer Installment Loan Regulations - State

Federal Reserve Bank of Dallas. July 15, 2005 SUBJECT. Banking Agencies Issue Host State Loan-to-Deposit Ratios DETAILS

8, ADP,

2012 RUN Powered by ADP Tax Changes

If the foreign survivor of the merger is on the record what do you require?

Year-End Tax Tables Applicable to Form 1099-DIV Page 2 Qualified Dividend Income

Nation s Uninsured Rate for Children Drops to Another Historic Low in 2016

10 yrs. The benefit is capped at 80% of FAS. An elected official may. 2% (first 10 yrs.); or 2.25% (second 10 yrs.); or 2.5% over 20 yrs.

Do you charge an expedite fee for online filings?

Providing Subprime Consumers with Access to Credit: Helpful or Harmful? James R. Barth Auburn University

Forecasting State and Local Government Spending: Model Re-estimation. January Equation

2014 STATE AND FEDERAL MINIMUM WAGES HR COMPLIANCE CENTER

BRINKER CAPITAL DESTINATIONS TRUST

Notice on Reallotment of Workforce Investment Act (WIA) Title I Formula Allotted Funds

FHA Manual Underwriting Exceeding 31% / 43% DTI Eligibility Quick Reference

Tax Recommendations and Actions in Other States. Joel Michael House Research Department June 9, 2011

EBRI Databook on Employee Benefits Chapter 6: Employment-Based Retirement Plan Participation

A d j u s t e r C r e d i t C E I n f o r m a t i o n S T A T E. DRI Will Submit Credit For You To Your State Agency. (hours ethics included)

FAPRI Analysis of Dairy Policy Options for the 2002 Farm Bill Conference

CRS Report for Congress

Media Alert. First American CoreLogic Releases Q3 Negative Equity Data

MINIMUM WAGE WORKERS IN HAWAII 2013

STATE AND FEDERAL MINIMUM WAGES

Motor Vehicle Sales Tax Rates by State as of December 31, Motor Vehicles Sold in Florida to Residents of Another State

Department of Health and Human Services. Federal Matching Shares for Medicaid, the Children s Health Insurance Program, and Aid to

504 Loan Program Rural Initiative - Waiver of Limitation on Lending Authority

ANTI-ARSON APPLICATION MODEL BILL

State Unemployment Insurance Tax Survey

Motor Vehicle Sales Tax Rates by State as of January 1, Motor Vehicles Sold in Florida to Residents of Another State

State Tax Treatment of Social Security, Pension Income

Taxable/Exempt Interest Income and Private Activity Bond Interest Percentage Page 7

DSH Reduction Allocation Process Flows. DRAFT Based on 5/15/13 NPRM

GUIDELINES ON CORPORATE OWNED LIFE INSURANCE

MODEL REGULATION ON UNFAIR DISCRIMINATION IN LIFE AND HEALTH INSURANCE ON THE BASIS OF PHYSICAL OR MENTAL IMPAIRMENT

S T A T E INSURANCE COVERAGE AND PRACTICE SYMPOSIUM DECEMBER 7 8, 2017 NEW YORK, NY. DRI Will Submit Credit For You To Your State Agency

White Paper 2018 STATE AND FEDERAL MINIMUM WAGES

WikiLeaks Document Release

Exhibit 57A. Approved Attorney Fees and Title Expenses

Aetna Individual Direct Pay Commissions Schedule

ADDITIONAL REQUIRED TRAINING before proceeding. Annuity Carrier Specific Product Training

S T A T E TURNING THE TABLES ON PLAINTIFFS IN TRUCKING LITIGATION APRIL 26 27, 2018 CHICAGO, IL. DRI Will Submit Credit For You To Your State Agency

Motor Vehicle Sales Tax Rates by State as of December 31, Motor Vehicles Sold in Florida to Residents of Another State

Important Tax Information for VanEck Vectors ETFs

CLMS BRIEF 2 - Estimate of SUI Revenue, State-by-State

Unclaimed Property Legislative Trends and Highlights

MINIMUM WAGE WORKERS IN TEXAS 2016

Transcription:

The following table provides information on the interest charged by each of the 50 states and its territories: FOR THE UNITED S AND TERRITORIES Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware District of Columbia Florida 12% per annum. 6% per annum effective 10/1/96, charged at the end the month the support was due and not paid. Prior to 10/1/96, 12% per annum. 10% simple interest per annum. State law provides for 10% per annum. Interest should be reduced to a judgment by a court or a sum certain indicated by the other state. 10% per annum; accrues from date installment or from date of entry of judgment. Interest may be calculated for child support arrearages. The following interest percentages can be calculated: prior to June 30, 1975, 6% simple interest; July 1, 1975, through June 30, 1979, 8% simple interest; July 1, 1979 through June 30, 1986, 8% compounded interest; and July 1, 1986, through the present 12 percent compounded interest. Rates determined by state s comptroller. Georgia 12% per year before 12/31/06; 7% per year after 1/01/07. Guam Hawaii Idaho Illinois 6% per annum effective 1/1/08; prior to 1/1/08, 12% per annum. 9% per annum, but IV-D Agency does not provide for collection. ERICSA 1

Indiana Iowa Kansas 8% per annum if arrearage amount determined in court entry, but court has discretion, upon request, to order up to 1.5% interest per month. Laws allow for 10% but not commonly collected or enforced. No, but Kansas law does provide for the assessment and collection of judgment interest, however, the Kansas IV-D program does not calculate or enforce judgment interest. Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota 12%, but only if reduced to judgment. Although the State of Maine does not charge interest it is authorized by statute. 19-A MRSA 2354 states that Commissioner (DHHS) may collect interest of 6% per annum on any support due or owing to the Department. 14 MRSA 1602-C authorizes Treasury Bill plus 6% post-judgment interest. 10% simple interest on money judgments. Only applied in limited number of cases by direction of the court. 12% annually. Depending upon payments received, in accordance with Massachusetts' regulations, obligors might not be assessed interest or might be eligible to apply for a waiver under certain circumstances. M.G.L. c.119a, s6(a) 830 CMR s119a.6.1. After 1/1/2010, discretionary surcharge to be imposed by the Court only for willful failure to pay child support. The surcharge shall be calculated at 6-month intervals at an annual rate of interest equal to 1% plus the average interest rate paid at auctions of 5-year United States treasury notes during the 6 months immediately preceding July 1 and January 1, as certified by the state treasurer. Prior to 1/1/2010, surcharge was mandatory; see MCL 552.603a for historical timeline breakdown of past rates. Non-child support judgments rates are set by Legislature. For child support the interest rate is the current judgment rate, plus 2%. ERICSA 2

Mississippi Charged depending on order. If payment is missed, usually 8% when ordered by the Court. Missouri Montana Nebraska Nevada 1% per month simple interest once reduced to lump sum judgment. Obligee must complete and file computation with circuit clerk to make interest collectible. Child support is considered a judgment. The interest rate on judgments is fixed at a rate equivalent yield of the average accepted auction price for the last auction of one-year Treasury bills, and takes effect two weeks after the publication of the auction price by the Secretary of the Treasury, pursuant to Neb. Rev. Stat. 45-103. When there is no express contract in writing fixing a different rate of interest, interest must be allowed at a rate equal to the prime rate at the largest bank in Nevada, as ascertained by the Commissioner of Financial Institutions, on January 1 or July 1, as the case may be, immediately preceding the date of the transaction, plus 2 percent, upon all money from the time it becomes due. New Hampshire New Jersey The Child Support Program in NJ does not charge interest. However, under court rule and case law, when a child support obligor seeks a warrant of satisfaction, or full arrears will be satisfied as a result of the child support lien law, or the Probation Division of the Superior Court locates and executes on assets of the obligor in an amount that satisfies the total arrearage, the collection of post-judgment interest must be addressed. The amount of post-judgment interest shall be calculated in accordance with the approved interest rates for judgments in effect during the periods in which the judgment was open. Such post-judgment interest rates are set on an annual basis pursuant to Court Rule 4:42-11 and are promulgated by the Administrative Director of the Courts by notices to the bar. Effective 1/1/10, the annual interest rate is 1.5%. ERICSA 3

New Mexico New York North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Puerto Rico Rhode Island South Carolina South Dakota Yes; Currently 4% effective 5/19/04. Prior to then, 8.75% from 6/18/93-5/18/04, and 15% from 6/17/83-6/17/93. 9% if reduced to a money judgment. For calendar year 2010 rate is 6.50%. Interest rate is equal to the prime rate as published in the Wall Street Journal on the first Monday in December of each year plus three percentage points and rounded up to the next one-half percentage point. Interest may not be compounded. The IV-D program will calculate interest on arrears that accrued after July 1, 2002. For arrears that accrued on or before July 1, 2002, the IV-D program will calculate interest effective January 1, 2004. Otherwise, interest will only be added to the IV-D program's records if a court has ordered the interest amount to be calculated by some other individual or entity and has approved the calculated amount. For purposes of interest, arrears must be due in a month prior to the current month. (Although the Ohio Revised Code contains the following language, the addition of interest to a child support order is extremely rare.) The court shall assess interest on the amount of support an obligor failed to pay if the court determines the failure to be willful and the arrears accrued after July 15, 1992. Interest accrues at the statutory rate of 10% per year. 9% only if party requests and provides an accounting that includes a calculation of interest. Periodic updates must be provided for case to reflect ongoing interest accrual. 12% per annum. Discretionary with the courts on whether to grant interest or not. 1% per month if awarded. However, South Dakota DCS does not compute or collect interest.. ERICSA 4

Tennessee Texas Utah Vermont Virgin Islands Virginia Washington 6% simple interest per year from the date support is delinquent (31 st day after payment due date). Federal post-judgment rate plus 2% on adjudicated arrears only. The rate changes each January. As a matter of policy, OCS is not currently charging interest in TANF cases. In Non-TANF cases, a surcharge of 12% per annum (simple, not compounded) is charged only on amounts reduced to judgments. Statutory rate of 6% on amount unpaid after 30 days since 7/1/04. 9% from 7/30/91-6/30/04. West Virginia 5% per annum simple interest effective 7/1/08. Prior to 7/1/08, 10% per annum simple interest. Wisconsin Wyoming 1% per month on all arrearages greater than one month s worth of support. May be 10% penalty on current missed obligation payments. 10% may be charged on amount reduced to judgment. ERICSA 5