Georgia DOR Announces 2020 Interest Rate for Interest-Bearing Refunds, Past Due Taxes

The Georgia Department of Revenue Jan. 1 announced the interest rate applicable to interest-bearing refunds and past due taxes for the 2020 calendar year. Effective Jan. 1, the annual interest rate is 7.75 percent, accruing monthly, for corporate income, individual income, sales and use, property, excise, and trust income tax purposes. In calendar year 2019, the interest rate was 8.50 percent. [Ga. Dep’t of Revenue, Pol’y Bull. No. ADMIN-2020-01, 01/01/20]

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