Multistate – Former Fed Staffers See Less Than 50/50 Chance of Sept Liftoff

Mninews.marketplace.com by Karen Mracek “Four former Federal Reserve officials sounded less than optimistic Thursday about the chance of a rate hike in September, with former Fed Vice Chair Donald Kohn calling the odds less than 50/50.” … For further Information: Continue reading Multistate – Former Fed Staffers See Less Than 50/50 Chance of Sept Liftoff

West Virginia – Adjusted Interest Rates for July 1, 2015 through December 31, 2015

Salt Report 3619 – On April 15, 2015, the West Virginia Department of Revenue, State Tax Department, released the interest rates for overpayments and underpayments for the second half of 2015: Underpayment Interest Rate – 9.5% Overpayment Interest Rate – 8% Continue reading West Virginia – Adjusted Interest Rates for July 1, 2015 through December 31, 2015

California – AB 405 Interest Equalization Act (Overpayment and Underpayment)

Salt Report 3596 – Currently, 22 states pay a lower percentage of interest to taxpayers who overpay and are due refunds than they pay to taxpayers who underpay and are assessed.  This bill is attempting to establish one interest rate Continue reading California – AB 405 Interest Equalization Act (Overpayment and Underpayment)

Virginia – Second Quarter Interest Rates

Salt Report 3595 – According to a tax bulletin posted on March, 17th 2015, Virginia’s interest rates will remain the same for the second quarter of 2015. Pursuant to Virginia Code Section 58.1-15 the interest rate for both assessments and Continue reading Virginia – Second Quarter Interest Rates

New York – Interest Rates for Overpayments and Underpayments

SALT Report 2842 – The New York Department of Taxation released an updated list of the interest rates that will apply to overpayments and underpayments of certain taxes administered by the Department. The rates are effective for the period of Continue reading New York – Interest Rates for Overpayments and Underpayments

Vermont – Interest Rate Increased for Underpayments and Decreased for Overpayments

SALT Report 1955 – The Vermont Department of Taxes released a memo regarding the interest rate that will be applied to underpayments and overpayments of taxes. The interest rate that will be imposed on underpayments will increase from 4.8% annuall… Continue reading Vermont – Interest Rate Increased for Underpayments and Decreased for Overpayments

California – 2013 Interest Rates for Underpayments and Overpayments

SALT Report 1667 – The California BOE released a chart with the interest rates that will be imposed on all overdue or unpaid sales and use taxes as well as the rates that apply to credit and refunds. From January 1, 2013 through June 30, 2013 the … Continue reading California – 2013 Interest Rates for Underpayments and Overpayments

Texas – 2012 Interest Rate for Credits, Refunds and Taxes Due

SALT Report 1330 – The Texas Comptroller has released their 2012 interest rate schedule for all past due taxes, taxes paid in error, or credits. The rate for 2012 is set at 4.25% which is 1% over the prime rate that was published in the Wall Stree… Continue reading Texas – 2012 Interest Rate for Credits, Refunds and Taxes Due

Texas – 2012 Interest Rate for Credits, Refunds and Taxes Due

SALT Report 1330 – The Texas Comptroller has released their 2012 interest rate schedule for all past due taxes, taxes paid in error, or credits. The rate for 2012 is set at 4.25% which is 1% over the prime rate that was published in the Wall Stree… Continue reading Texas – 2012 Interest Rate for Credits, Refunds and Taxes Due