Enter the unpaid amount, your state, and how many days the payment is overdue. We apply that state's statutory interest rate so you can see exactly how much to add to a late invoice.
Statutory annual interest contractors can add to overdue payments. Cited and disclaimed — verify before use.
| State | Annual rate | Statute | Notes |
|---|---|---|---|
| Alabama | 8%/yr | Ala. Code § 39-2-5 / § 8-8-8 | 1%/month on private; 8%/yr public reference. |
| Alaska | 10.5%/yr | Alaska Stat. § 36.30.290 | Public works reference rate. |
| Arizona | 18%/yr | Ariz. Rev. Stat. § 32-1129.01 / § 34-221 | Private 18%/yr; public 18%/yr on AR balance. |
| Arkansas | 10%/yr | Ark. Code § 22-9-504 | Public works. |
| California | 10%/yr | Cal. Civ. Code § 8200 (prompt pay) | Private 10%/yr; public also 10%/yr. |
| Colorado | 10%/yr | Colo. Rev. Stat. § 38-22.5-101 | 10%/yr reference. |
| Connecticut | 12%/yr | Conn. Gen. Stat. § 42a-2-725 | 12%/yr reference; C.G.S. § 49-41 bonds. |
| Delaware | 10%/yr | Del. Code tit. 6 § 3501 | Contract rate; 10% reference where silent. |
| Florida | 12%/yr | Fla. Stat. § 715.12 / § 255.0785 | Private & public 12%/yr. |
| Georgia | 12%/yr | O.C.G.A. § 13-11-8 / § 36-91-60 | Private 12%/yr (O.C.G.A. § 13-11-8 since 2022). |
| Hawaii | 12%/yr | Haw. Rev. Stat. § 444-29 / § 103D | 12%/yr reference. |
| Idaho | 12%/yr | Idaho Code § 45-514 | 12%/yr reference. |
| Illinois | 12%/yr | 820 ILCS 50/0.01 (Illinois Prompt Payment Act) | 12%/yr reference. |
| Indiana | 18%/yr | Ind. Code § 5-17-5 / § 32-28-3 | Up to 18%/yr on some contracts. |
| Iowa | 12%/yr | Iowa Code § 573.25 / § 73A | Public 1.5%/month (~18%/yr); 12% reference. |
| Kansas | 12%/yr | Kan. Stat. § 16-204 | 12%/yr statutory reference. |
| Kentucky | 12%/yr | Ky. Rev. Stat. § 372.040 | 12%/yr reference. |
| Louisiana | 12%/yr | La. R.S. 9:4814 / § 38:2246 | Private 1%/month; public also 1%/month. |
| Maine | 12%/yr | Me. Rev. Stat. tit. 14 § 752 | 12%/yr reference. |
| Maryland | 12%/yr | Md. Code, Real Prop. § 9-301 / State Fin. § 12 | 12%/yr reference. |
| Massachusetts | 12%/yr | Mass. Gen. Laws ch. 231 § 6C | 12%/yr reference. |
| Michigan | 12%/yr | Mich. Comp. Laws § 570.1109 | 12%/yr reference ( builders' trust fund act). |
| Minnesota | 12%/yr | Minn. Stat. § 337.10 / § 500.245 | 12%/yr reference; rate set periodically. |
| Mississippi | 12%/yr | Miss. Code § 31-5-25 | 12%/yr reference. |
| Missouri | 12%/yr | Mo. Rev. Stat. § 34.057 | Public 1.5%/month (~18%/yr); 12% reference. |
| Montana | 12%/yr | Mont. Code § 28-1-211 | 12%/yr reference. |
| Nebraska | 12%/yr | Neb. Rev. Stat. § 45-1208 | Public 1%/month; 12%/yr reference. |
| Nevada | 12%/yr | Nev. Rev. Stat. § 624.622 / § 108 | Private 2%/month (~24%/yr) on residential; 12% general. |
| New Hampshire | 12%/yr | N.H. Rev. Stat. § 339-A / § 447:8 | 12%/yr reference. |
| New Jersey | 12%/yr | N.J. Stat. § 2A:30-2.1 | 1%/month (~12%/yr) reference. |
| New Mexico | 12%/yr | N.M. Stat. § 13-4-9 / § 48-2 | Public 1%/month; 12% general. |
| New York | 12%/yr | N.Y. State Fin. Law § 139-k (1%/month) | Public 1%/month (~12%/yr). |
| North Carolina | 12%/yr | N.C. Gen. Stat. § 44A-22 / § 143-134.1 | Public 1%/month; 12%/yr general. |
| North Dakota | 12%/yr | N.D. Cent. Code § 35-27-04 | 12%/yr reference. |
| Ohio | 18%/yr | Ohio Rev. Code § 4113.61 | Public 18%/yr; private 18%/yr reference. |
| Oklahoma | 12%/yr | Okla. Stat. tit. 61 § 2 | Public 1%/month (~12%/yr). |
| Oregon | 9%/yr | Or. Rev. Stat. § 279C.510 / § 87.001 | Public 1%/month (~12%/yr); 9% general reference. |
| Pennsylvania | 12%/yr | 62 Pa. Cons. Stat. § 3939 (Prompt Pay) | Public 1%/month + penalty; 12% reference. |
| Rhode Island | 12%/yr | R.I. Gen. Laws § 37-13 | 12%/yr reference. |
| South Carolina | 16%/yr | S.C. Code § 11-35-67 / § 29-6-30 | Public 1.67%/month (~16%/yr). |
| South Dakota | 12%/yr | S.D. Codified Laws § 5-21-21 | Public 1%/month; 12% general. |
| Tennessee | 12%/yr | Tenn. Code § 65-7-103 / § 66-11-2 | Public 1%/month; 12% general. |
| Texas | 18%/yr | Tex. Gov't Code § 2252 / Prop. Code § 28 | Private 1.5%/month (~18%/yr); public 1.5%/month. |
| Utah | 12%/yr | Utah Code § 13-8-3 / § 38-1-27 | 12%/yr reference. |
| Vermont | 12%/yr | Vt. Stat. tit. 9 § 4007 / tit. 19 § 31 | 12%/yr reference. |
| Virginia | 12%/yr | Va. Code § 11-6 / § 43-1 | 1%/month (~12%/yr). |
| Washington | 12%/yr | Rev. Code Wash. § 39.76.011 / § 60.28 | Public 1%/month; 12% general. |
| Washington DC | 12%/yr | D.C. Code § 39-101 / § 40-303.11 | 12%/yr reference. |
| West Virginia | 10%/yr | W. Va. Code § 5-22-1 | Public 1%/month (~10%/yr). |
| Wisconsin | 12%/yr | Wis. Stat. § 66.0908 / § 120 | Public 1%/month; 12% general. |
| Wyoming | 12%/yr | Wyo. Stat. § 16-6-702 | Public 1%/month; 12% general. |
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This is general information, not legal advice. Statutes change and vary by project type (public/private/residential) and by your role (GC/sub/supplier). Verify every figure with a licensed construction attorney in your state before relying on it. Rates compiled from public prompt-payment statutes as of 2026-07-27; several states set different rates for public vs. private vs. residential work, and a few reset their statutory rate periodically.