NCDOR Sets Interest Rate At 5 Percent Rate Lowest Allowed By Statute

The N.C. Department of Revenue has set the interest rate at 5 percent, the lowest allowed by statute, for the period of July 1 – Dec. 31, 2019. The interest rate applies to refunds and assessments of tax.

On or before June 1 and December 1 of each year, the Secretary of Revenue establishes the interest rate to be in effect during the six-month period beginning on the next succeeding July 1 and January 1, respectively (G.S. 105-241.21).