South Carolina Releases Updated Interest Rates for Overpayments and Underpayments

June 29, 2017 Paul Ogawa

The South Carolina Department of Revenue recently published Information Letter #17-9, detailing interest rates for overpayments and underpayments relating to withholding tax through September 2017. South Carolina publishes these Information Letters periodically throughout the year, and these letters are the primary method of notifying the taxpaying public about changes in withholding tax interest.

The effective interest rate for overpayments and underpayments relative to withholding tax payments remains unchanged from the previous Information Letter (#17-5) at 4% through September 30, 2017.

To review this letter in full, please click here.

The post South Carolina Releases Updated Interest Rates for Overpayments and Underpayments appeared first on Sovos.

About the Author

Paul Ogawa is a Junior Regulatory Counsel at Sovos Compliance. As part of the Regulatory Analysis team, his main areas of focus are state and federal tax withholding, the Affordable Care Act (ACA), and Canadian tax information reporting. Prior to Sovos, Paul worked as a litigation attorney in Boston area law firms, representing clients in insurance subrogation claims, family law matters, and employment disputes. Paul is a member of the Massachusetts Bar, earned his B.A. from Brandeis University and his J.D. from the Suffolk University Law School.

More Content by Paul Ogawa
Previous Article
IRS Reminds Financial Institutions to Renew FFI Agreements

The IRS released an updated FFI Agreement for Financial Institutions with FATCA obligations on December 30,...

Next Article
South Carolina Releases Updated Withholding Tax Coupon

South Carolina recently released an updated Form WH-1601, Withholding Tax Coupon. This form/coupon is used ...


Regulatory Analysis News - Delivered Weekly

Thank you for subscribing!
Error - something went wrong!