20 NYCRR 2393.1(e)(2)

(2) For taxes imposed by or pursuant to the authority of articles 22, 23, 26, 26-A, 26-B, 30, 30-A and 30-B of the Tax Law, article 2-E of the General City Law, chapters 17 and 19 of title 11 of the Administrative Code of the City of New York and articles IX and X of the Codes and Ordinances of the City of Yonkers (Tax Law, §§171, 697, 722, 962, 990, 1007, 1023, 1312, 1332 and 1342; General City Law, §25-n(e); Administrative Code of the City of New York, §§11-1797 and 11-1943; and Codes and Ordinances of the City of Yonkers, §§92-92 and 92- 113), the rate of interest for overpayment, underpayment and recovery of erroneous refund of taxes is the sum of (i) the Federal short-term rate, plus (ii) one percentage point for any period prior to October 1, 1990, and two percentage points for any period after September 30, 1990, compounded daily. The overpayment and underpayment rates of interest payable by or to an employer under section 697(j)(4) of the Tax Law with respect to income taxes required to be withheld and paid over pursuant to the provisions of part V of article 22 of the Tax Law are the same as those rates described in paragraph (3) of this subdivision.