Policy
State agencies will develop and implement internal policies and procedures to charge, as directed and in the manner prescribed by State Statute, interest and a late penalty fee on past-due accounts receivable. Interest shall be charged at the rate established pursuant to G.S. 105-241.21 on a past due accounts receivable from the date it was due until it is paid. Agencies should contact the Department of Revenue, to obtain the rate currently being charged. A late payment penalty fee of no more than ten percent (10%) of the accounts receivable shall be charged on all past due accounts.
Procedures
N/A
Accounting Guidance
N/A
Related Documents (Memos/Forms)
N/A
Revision History
- 1/22/2025 - Formatted for new ncosc.gov website
Policy Owner
Statewide Accounting