New York Tax and Finance Department Announces Q3 2026 Business Interest Rates for Tax Underpayment

The New York Department of Taxation and Finance announced that the interest rate applicable to tax underpayments for income and excise taxes will be 11 percent, effective July 1, through Sept. 30, 2026. The rate applies to daily-compounded interest on underpayments of the General Corporation Tax (GCT), Unincorporated Business Tax (UBT), Banking Corporation Tax (BCT), and Business Corporation Tax. Tax professionals should account for the updated quarterly rate when calculating liabilities, audit exposure, amended returns, and payment plans during the third quarter of 2026. [N.Y. Dep’t of Tax’n and Fin., Business Interest Rates, 06/09/26]

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