New Interest Rates for Georgia Taxpayers
A bill recently passed by the Georgia Legislature (H.B. 960), would adjust tax overpayment and underpayment interest charges for all taxpayers from 12% annually to an annual rate equal to a bank prime loan rate plus 3 percent, to accrue monthly. The annual interest rate will be recalculated for each calendar year. H.B. 960 was signed into law by Governor Deal on April 27th 2016. The updated rates will take effect on July 1, 2016.
For more information please visit:
H.B. 960 – Section II of Act