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RSA 21-J:28 · Interest

Title
I: THE STATE AND ITS GOVERNMENT
Chapter
21-J · DEPARTMENT OF REVENUE ADMINISTRATION
Status
current
Official source linked
Yes
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21-J:28 Interest. –

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I.

For all taxes administered by the department, interest on amounts not paid when due shall be computed at the annual underpayment rate determined from time to time pursuant to paragraph II from the prescribed payment date or original statutory due date to the date payment is actually made. Interest shall be allowed and paid at the annual overpayment rate determined from time to time pursuant to paragraph III upon any overpayment of taxes administered by the department. No interest shall be allowed or paid on amounts less than $10 unless specifically requested in writing. If any overpayment of tax administered by the department is refunded within 3 months after the due date or authorized extension date or within 3 months after the return is filed, whichever is later, no interest shall be allowed under this section. Interest on amounts not paid when due, or interest on overpayments shall be equal to the sum of the simple interest amounts computed with respect to each calendar year, or a portion thereof, during which the underpayment or overpayment remains outstanding. Interest with respect to only a portion of a calendar year shall be determined on a pro rata basis based on the number of days the underpayment or overpayment remains outstanding during the 365-day calendar year. Upon certification by the commissioner, the state treasurer shall refund the overpayment with interest from the revenue of the specific tax. I-a. In the case of an assessment of any tax, the department may prescribe a time not to exceed 30 days after notice of the original assessment or any reissued assessment during which, if any amount of the tax is paid, no interest shall be imposed on such amount for the period after notice of the original or reissued assessment.

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II.

For purposes of this section, with respect to any calendar year, the term "annual underpayment rate" shall be determined by the commissioner and shall mean the underpayment rate specified in section 6621(a)(2) of the Internal Revenue Code of 1986 as in effect on the September 1 immediately preceding such calendar year plus 2 percentage points.

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III.

For purposes of this section, with respect to any period, the term "overpayment rate" shall mean the underpayment rate determined under paragraph II with respect to such period year less 3 percentage points. Source. 1985, 204:1. 1991, 163:4. 1992, 13:1. 1995, 268:1, eff. July 1, 1997. 2021, 24:1, eff. May 6, 2021. Refunds, Appeals for Redetermination or Reconsideration, Liens, and Distraints

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Source note

Source. 1985, 204:1. 1991, 163:4. 1992, 13:1. 1995, 268:1, eff. July 1, 1997. 2021, 24:1, eff. May 6, 2021. Refunds, Appeals for Redetermination or Reconsideration, Liens, and Distraints

Source history

  • 1985, 204:1
  • 1991, 163:4
  • 1992, 13:1
  • 1995, 268:1, eff. July 1, 1997
  • 2021, 24:1, eff. May 6, 2021. Refunds, Appeals for Redetermination or Reconsideration, Liens, and Distraints

Related materials

Bill relationships

  • 2026 HB1385 amend

    use of Representatives in General Court convened: 1 New Section; The State and Its Government; Department of Revenue Administration; Prohibition on Negative Tax Rates. Amend RSA 21-J by inserting after section 35 the following new section: 21-J:35-a Prohibition on Negative Tax Rates. The department of revenue administration shall be prohibited from accepting or setting any negative tax rates fo

  • 2026 HB1417 reference · effective 2027-01-01

    land and improvement values for every taxable parcel using mass appraisal methods consistent with international association of assessing officers standards, department rules, and RSA 21-J. II. Assessing officials shall maintain and annually update a land value map or dataset and make parcel-level land and improvement values publicly available, subject to privacy protections in law. III. The depar

  • 2026 HB1417-FN reference · effective 2027-01-01

    land and improvement values for every taxable parcel using mass appraisal methods consistent with international association of assessing officers standards, department rules, and RSA 21-J. II. Assessing officials shall maintain and annually update a land value map or dataset and make parcel-level land and improvement values publicly available, subject to privacy protections in law. III. The depar

  • 2026 HB1514 amend

    recommends the local education agency take corrective action. 2 New Section; The State and Its Government; Department of Revenue Administration; Required Annual Reports. Amend RSA 21-J by inserting after section 49 the following new section: 21-J:50 Required Annual Reports. I. The department of revenue administration shall annually, by July 10, create and send a school district audit compliance re

  • 2026 HB1546 repeal · effective 2027-01-01

    xes due under RSA 77-A as provided by RSA 77-A:5, X]. 32 Repeals. The following are repealed: I. RSA 21-J:45, I(a), relative to the reporting of business profits taxes. II. RSA 21-J:28-b, VII, relative to the department of revenue administration bearing the burden of proof on any change to any compensation deduction under RSA 77-A. III. RSA 77-A, relative to the business profits tax. IV. RSA 77-E:3-

  • 2026 HB1546-FN repeal · effective 2027-01-01

    xes due under RSA 77-A as provided by RSA 77-A:5, X]. 32 Repeals. The following are repealed: I. RSA 21-J:45, I(a), relative to the reporting of business profits taxes. II. RSA 21-J:28-b, VII, relative to the department of revenue administration bearing the burden of proof on any change to any compensation deduction under RSA 77-A. III. RSA 77-A, relative to the business profits tax. IV. RSA 77-E:3-

  • 2026 HB1810 reference

    e business, organization, municipality and state agency which fails to pay any amount due in paragraph V shall pay, in addition to the amount of fee due, interest as prescribed in RSA 21-J:28 and penalties as prescribed in RSA 21-J:33, VIII. VII. Fee revenue on all bulk road salt, bulk road salt mix, and brine sold in this state imposed by this section shall be deposited in the road salt mitigation fund

  • 2026 HB1810 amend

    ad maintenance practices. Be it Enacted by the Senate and House of Representatives in General Court convened: 1 New Subdivision; Road Salt Fee and Mitigation Fund. Amend RSA 21-J by inserting after section 49 the following new subdivision: Road Salt Fee and Mitigation Fund 21-J:50 Road Salt Fee. I. In this subdivision: (a) "Salt" means sodium chloride, calcium chloride, magnesium chlori

  • 2026 HB1810-FN reference

    e business, organization, municipality and state agency which fails to pay any amount due in paragraph V shall pay, in addition to the amount of fee due, interest as prescribed in RSA 21-J:28 and penalties as prescribed in RSA 21-J:33, VIII. VII. Fee revenue on all bulk road salt, bulk road salt mix, and brine sold in this state imposed by this section shall be deposited in the road salt mitigation fund

  • 2026 HB1810-FN amend

    ad maintenance practices. Be it Enacted by the Senate and House of Representatives in General Court convened: 1 New Subdivision; Road Salt Fee and Mitigation Fund. Amend RSA 21-J by inserting after section 49 the following new subdivision: Road Salt Fee and Mitigation Fund 21-J:50 Road Salt Fee. I. In this subdivision: (a) "Salt" means sodium chloride, calcium chloride, magnesium chlori

  • 2026 SB652 reference

    able on the prescribed payment date. If such return shows an overpayment of the tax due, the commissioner shall refund or credit the overpayment to the taxpayer in accordance with RSA 21-J:28-a, except that: (1) For taxable periods ending on or after December 31, 2022 a credit shall only be allowed in an amount up to 500 percent of the total tax liability for the taxable period and the remainder of the over

  • 2026 SB652-FN reference

    able on the prescribed payment date. If such return shows an overpayment of the tax due, the commissioner shall refund or credit the overpayment to the taxpayer in accordance with RSA 21-J:28-a, except that: (1) For taxable periods ending on or after December 31, 2022 a credit shall only be allowed in an amount up to 500 percent of the total tax liability for the taxable period and the remainder of the over

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