New interest rates for the New Year February 2020 Tax News

The adjusted interest rate for the period February 1, 2020 through June 30, 2020 decreased to 5%.  This is the rate compounded daily that accrues with respect to various state taxes including: personal income, corporate income and franchise.  The rate for corporation tax overpayments remains the same at 2%. Visit our Interest and estimated penalty rates webpage for more information.