Interest Rates Set For Calendar Year 2025

The purpose of this Technical Information Release is to advise taxpayers and tax practitioners of the annual underpayment and overpayment interest rates for calendar year 2025, as determined under RSA 21-J:28. Effective January 1, 2025 through December 31, 2025, the State of New Hampshire interest rates applicable on taxes administered by the N.H. Department of Revenue Administration will be 10% for underpayments and 7% for overpayments.

The New Hampshire statutes governing interest rates were amended in 1995 (Laws of 1995, ch. 268:1) to require that, starting on January 1, 1998 and determined annually thereafter, the New Hampshire interest rates would be based upon the rates set by the federal government under Internal Revenue Code § 6621(a)(2). RSA 21-J:28, II provides that the “annual underpayment rate” (the interest rate on tax due) is tied to the underpayment rate specified in the Internal Revenue Code of 1986, as in effect on the September 1 immediately preceding such calendar year, plus 2 percentage points. The underpayment rate specified in the Internal Revenue Code § 6621(a)(2) for the period from July 1, 2024 through September 30, 2024 is 8%. RSA 21-J:28, III provides that the “annual overpayment rate” (the interest rate paid on refunds) is to be 3 percentage points less than the “annual underpayment rate” determined under RSA 21-J:28, II.

2024-002 Tax Information Release

Individuals who need auxiliary aids for effective communication in programs and services of the Department of Revenue Administration are invited to make their needs and preferences known to the N.H. Department of Revenue Administration, 109 Pleasant Street, Concord, NH 03301 or by contacting them at (603) 230-5000.