interest rate will change in July
The new adjusted interest rate for the period from July 1, 2006, to December 31, 2006, is seven percent. The interest rate (Section 19521, formerly 19269, of the Revenue and Taxation Code) is compounded daily and accrues for personal income, corporate income, and franchise taxes. The rate for corporation tax overpayments for the period is four percent.
The adjusted interest rate is currently set at six percent for the period January 1, 2006, through June 30, 2006. You can find current and past adjusted interest rates on our Website at www.ftb.ca.gov (search for interest rates).