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Alabama DOR Announces Third Quarter Interest Rate for Tax Underpayments, Overpayments

May 24, 2022, 5:00 AM

The Alabama Department of Revenue (DOR) May 1 announced the 5 percent interest rate for third-quarter individual income, corporate income, trust income, sales and use, excise, and property tax underpayments and overpayments. The DOR calculates interest on underpayments and overpayments at the same annual rate, except for land sold by the state for taxes, which is subject to a 12 percent interest rate. [Ala. Dep’t of Revenue, Quarterly Interest Rates, 05/01/22]

Reference: View Source Document.