Vermont Issues Declared Rate for 2018

The Vermont Commissioner of Taxes recently issued a memo regarding the average prime loan rate charged by banks for 2018.  The declared rate is the basis for determining whether a loan is a high-rate/high-point loan under Vermont law.  For 2018, the declared rate is 4.0%.  This is effective on January 1, 2018 and applies to interest that accrues in the 2018 calendar year.

The memo establishing the declared rate for 2018 is available here.