New adjusted interest rate
The adjusted interest rate has been determined for the period January 1, 2009, to June 30, 2009. On January 1, 2009, the rate will drop to 5 percent from the current rate of 7 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 will also drop on January, 1, 2009, from 3 percent to 2 percent.
You can find current and former adjusted interest rates on our website ftb.ca.gov (search for current interest rate).