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Tax News
Adjusted interest rate to change in January 2007

The new adjusted interest rate for the period from January 1, 2007, to June 30, 2007, is eight 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 five percent.

The adjusted interest rate is currently set at seven percent for the period July 1, 2006, through December 31, 2006. You can find current and former adjusted interest rates on our Website.