Virginia Interest Rates Change for the Fourth Quarter
Virginia's interest rates will change for the fourth quarter of 2022. The underpayment and overpayment rates for Virginia taxes are 2% higher than the corresponding federal rates. Federal rates for the fourth quarter of 2022 will be 6% for tax underpayments (assessments) and 6% for tax overpayments (refunds) by noncorporate taxpayers. Accordingly, the Virginia rates for the fourth quarter of 2022 will be 8% for tax underpayments (assessments) and 8% for tax overpayments (refunds).
Details about these interest rates can be found in Tax Bulletin 22-11.
If you have additional questions, go to
www.tax.virginia.gov, or contact us at 804.367.8031 for individual income tax questions and 804.367.8037 for business tax questions.
