This release reflects the following rate changes effective April 1, 2016:

• Alabama from 3% to 4%
• Arizona from 3% to 4%.
• Federal from 3% to 4% on underpayments and from 2% to 3% on overpayments.
• Massachusetts from 4% to 5% on underpayments and from 2% to 3% on overpayments.
• New Mexico from 3% to 4%.
• New York City from 7.5% to 8% on underpayments and from 2% to 3% on overpayments.
• New York State from 7.5% to 8% on underpayments and from 2% to 3% on overpayments.
• South Carolina from 3% to 4% on underpayments and from 0% to 1% on overpayments.
• Virginia from 5% to 6%.

In addition, a change for Michigan from 4.25% to 4.40% effective July 1, 2016, has been added. Rules governing large underpayments for Federal, California, and Virginia and large corporate overpayments for Federal, Alabama, Arizona, and Virginia still apply.