South Carolina regularly reviews and adjusts the interest rates for over- and underpayments of taxes. Per SC Information Letter #19-15, for the period from July to October of 2019, the interest rate for underpayments will be five percent, down from six percent in the prior quarter.
In addition, the letter notes that for the 2019-2020 fiscal year, running from July 2019 to July 2020, the interest rates for refunds will be reduced by three percent from rate for underpayments.
To review SC Information Letter #19-15, please follow this link.
