NCDOR Sets Interest Rate At 7 Percent

RALEIGH – The N.C. Department of Revenue has set the interest rate at 7 percent for the period of January 1, 2023 through June 30, 2023. This is  an increase from 5 percent. The interest rate applies to overpayments of tax and assessments of tax.

NC General Statute 105-241.21 requires the Secretary of Revenue to establish the interest rate to be in effect during the six-month period on or before June 1 and December 1 of each year, respectively.