Business Interest Rates

Department of Finance


Business and Excise TaxesBusiness ResourcesBenefitsDoing Business with NYC


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

January 1, 2025
through
March 31, 2025
11%

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:

January 1, 2025 - March 31, 2025

October 1, 2024 - December 31, 2024

July 1, 2024 - September 30, 2024

April 1, 2024 - June 30, 2024

January 1, 2024 - March 31, 2024