What is the current Florida statutory interest rate?
Current Judgment Interest Rates
|Effective Date||Rate Per Annum||Daily Rate as a Percentage|
|April 1, 2022||4.25%||.0116438%|
|January 1, 2022||4.25%||.0116438%|
|October 1, 2021||4.25%||.0116438%|
|July 1, 2021||4.25%||.0116438%|
What is the statutory interest rate?
10% per year
Const., art. XV, § 1.) Interest accrues on an unpaid judgment amount at the legal rate of 10% per year (7% if the judgment debtor is a state or local government entity) generally from the date of entry of the judgment.
How is post judgment interest calculated in Florida?
If we take $10,000.00 and multiply by . 0497 (4.97%) divided by 365 days, it will determine the daily interest amount in 2017, which is $1.361/day. Alternatively, take the “daily rate as a decimal” and multiply by $10,000.00.
What is current post judgment interest rate?
The post-judgment interest rate for judgments entered from May 16, 2022 through May 22, 2022 is: 2.00%.
How do you calculate legal interest rate?
HOW TO CALCULATE POST JUDGMENT INTEREST
- Take your judgment amount and multiply it by your post judgment rate (%).
- Take the total and divide it by 365 (the number of days in a year).
- You will end up with the amount of post judgment interest per day.
When can I claim statutory interest?
Statutory interest: the law allows business creditors to charge interest for late payments. If there’s a contractual interest rate, you can only claim statutory interest if the contract, or your Invoices and other commercial documentation, expressly reserves the position regarding statutory interest.
Who is in charge of the Florida Department of Financial Services?
Chief Financial Officer Jimmy Patronis
Chief Financial Officer Jimmy Patronis, a statewide official, oversees the Department of Financial Services and serves as the State Fire Marshal.