The Louisiana Department of Revenue has issued a revenue information bulletin (RIB) regarding the 2011 judicial interest rate to be paid on refunds.
The judicial interest rate, which is the rate the Department uses to pay interest on refunds and credits, has been set by the Office of Financial Institutions at four percent effective January 1, 2011, through December 31, 2011.
La. R.S. 47:1624(A) provides that the Department will pay interest on refunds and credits at the judicial interest rate established by the Commissioner of the Office of Financial Institutions in accordance with La. R.S. 13:4202.