Interest Rates Decrease
The adjusted interest rate has been determined for the period July 1, 2011, through December 31, 2011.1 The interest rate will decrease from four to three percent. This rate is compounded daily and accrues with respect to various state taxes including: personal income, corporate income, and franchise. The rate for corporation tax overpayments for the period will remain zero percent.
- Pursuant to Section 19521 of the Revenue and Taxation Code