​​Effective November 9, 2013, an exception to underpayment interest (UPI) applies to individuals, estates, trusts, and partnerships if their total tax is less than $500. The $500 includes minimum tax and, for taxable years beginning before January 1, 2013, the economic development surcharge and recycling surcharge less withholding. Previously the amount was $200.

This change applies regardless of the tax period. Therefore, an amended return processed or adjustment dated on or after November 9, 2013, will have UPI using the $500 total tax exception.

November 11, 2013