Is a prepayment penalty deductible? Does a prepayment penalty generate taxable interest income for the lender?

Note: Interest owed and earned on International Fuel Tax Agreement (IFTA) tax are set by IFTA , Inc. Interest rates for current and prior years can be found ... Interest income from state and local government obligations is exempt federally, but is taxable in Nebraska, except interest on bonds issued by Nebraska state ... ... Interest on underpayment of your estimated tax" line of your tax return. ... This interest is taxable and must be included on both your federal and Oregon returns ... Part I - TAXABLE INTEREST. Interest on bank deposits, notes, mortgages from individuals, corporation bonds, savings and loan deposits, and credit. Interest income from U.S. government obligations; Military compensation after reacquisition of Colorado residency; Military retirement benefits; Nonresidents ... Jan 21, 2025 ... If you paid foreign taxes on your interest or dividend income, you may be able to claim a foreign tax credit when you calculate your federal ( ... Oil Production Tax Rates · 1% is levied on the first $60.00 of value · 7% is levied on a value greater than $60.00 and less than $80.00 · 9% is levied on a ... ... tax filing purposes. Residents should then exclude income Arizona law does not tax, which includes: interest from U.S. government obligations;; Social ... Review the information below to understand how interest income from certain obligations can affect your taxable income. The West Virginia Code requires the. Tax Commissioner to establish interest rates for tax underpayments based on the adjusted prime rate. Each. December, the ...