Interest Rates Increase 2012
The adjusted interest rate has been determined for the period January 1, 2012, through June 30, 2012. 1 Currently, interest rates are three percent, but will increase to four percent at the first of the year. 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.
1 Pursuant to Section 19521 of the Revenue and Taxation Code.