Florida Late Fee Calculator
Calculate late fees and interest on overdue invoices in Florida. Enter your contract rate or the current statutory rate.
Late fee rules in Florida
Statutory interest rate
Floating: when no rate is agreed, interest accrues at the judgment rate of Fla. Stat. § 55.03, which the state CFO re-sets every quarter (12-month average of the NY Fed discount rate plus 4 percentage points). Judgment rates then re-adjust each January 1 until paid.
Fla. Stat. § 687.01 (default when none agreed); § 55.03 (judgment rate mechanism)
Can you charge more? (contract & caps)
The contract controls, but Florida usury law caps interest at 18% per year simple on obligations of $500,000 or less, and at the 25% criminal-usury threshold above that (§§ 687.02–687.03, 687.071).
Prompt payment rules
Local Government Prompt Payment Act: late local-government construction payments bear the greater of 2% per month or the contract rate. Private construction payments bear the § 55.03 rate plus an additional 12% per annum, or the contract rate if greater (§ 715.12, contracts after July 1, 2021).
Worth knowing
Florida has no fixed statutory number at all — the CFO re-sets the rate quarterly, and even entered judgments re-adjust to the current rate every January 1 until paid. Check the CFO's published rate before invoicing interest.
This page is general information, not legal advice. Statutory rates change — some reset annually or quarterly — and how they apply depends on your contract and situation. Verify current rates against the cited statutes or consult a lawyer before charging interest.
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