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Tax News
No change to adjusted interest rate for July-December 2007

The new adjusted interest rate for the period July 1, 2007, to December 31, 2007, is eight percent, the same rate that is in effect for January 1 through June 30, 2007.

The interest rate (Revenue and Taxation Code Section 19521, formerly Section 19269) is compounded daily, and accrues for personal income tax, corporate income tax, and franchise tax. The rate for corporation tax overpayments for the period is five percent.

You can find adjusted interest rates, both current and past, on our Website at (search for "interest rates").