Interest Rates Decrease in July
The adjusted interest rate has been determined for the period July 1, 2012, through December 31, 2012. 1 Currently, interest rates are four percent, but will decrease to three percent in July. 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 Revenue and Taxation Code Section 19521.