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Interest rates on tax underpayments

Interest rates

Tax underpayments will have interest applied to them daily. The rates below apply to tax underpayments of income and excise taxes including:

  • General Corporation Tax (GCT)
  • Unincorporated Business Tax (UBT)
  • Banking Corporation Tax (BCT)
  • Business Corporation Tax
Interest Rates for NYC Income & Excise Taxes
October 1, 2024 through December 31, 2024 12%
July 1, 2024 through September 30, 2024 12%
April 1, 2024 through June 30, 2024 12%
January 1, 2024 through March 31, 2024 12%
October 1, 2023 through December 31, 2023 12%
July 1, 2023 through September 30, 2023 11%
April 1, 2023 through June 30, 2023 11%
January 1, 2023 through March 31, 2023 11%
October 1, 2022 through December, 31, 2022 10%
July 1, 2022 through September 30, 2022 9%
April 1, 2022 through June 30, 2022 8%
January 1, 2022 through March 31, 2022 7.5%
October 1, 2021 through December 31, 2021 7.5%
July 1, 2021 through September 30, 2021 7.5%
April 1, 2021 through June 30, 2021 7.5%
January 1, 2021 through March 31, 2021 7.5%
October 1, 2020 through December 31, 2020 7.5%
July 1, 2020 through Sept 30, 2020 7.5%
April 1, 2020 through June 30, 2020 9%
July 1, 2019 through March 31, 2020 9%
January 1, 2019 through June 30, 2019 10%
April 1, 2018 through December 31, 2018 9%
April 1, 2016 through March 31, 2018 8%
October 1, 2011 through March 31, 2016 7½%
April 1, 2011 through September 30, 2011 8%
January 1, 2011 through March 31, 2011 7½%
July 11, 2009 through December 31, 2010 8%
April 1, 2009 through July 10, 2009 6%
January 1, 2009 through January 1, 2009 7%
October 1, 2008 through December 31, 2008 8%
July 1, 2008 through September 30, 2008 7%
April 1, 2008 through June 30, 2008 8%
January 1, 2008 through March 31, 2008 9%
July 1, 2006 through December 31, 2007 10%
October 1, 2005 through June 30, 2006 9%
April 1, 2005 through September 30, 2005 8%
October 1, 2004 through March 31, 2005 7%
July 1, 2004 through September 30, 2004 6%
April 1, 2004 through June 30, 2004 7%
October 1, 2003 through March 31, 2004 6%
July 1, 2003 through September 30, 2003 7%
January 1, 2002 through June 30, 2003 6%
July 1, 2001 through December 31, 2001 7%
April 1, 2001 through June 30, 2001 8%
April 1, 2000 through March 31, 2001 9%
April 1, 1999 through March 31, 2000 8%
January 1, 1999 through March 31, 1999 7%
April 1, 1998 through December 31, 1998 8%
Archived Interest Rate Notices on Tax Underpayments

Notice of interest rates on New York City income and excise taxes for the period: