California Revenue and Taxation Code

§ 13563

RTC § 13563 Effective Jan 1, 2004Div. 2 · Part 8 · Ch. 6

Statute text

(a)For purposes of determining interest on overpayments for periods beginning before July 1, 2002, interest shall be allowed and paid upon any overpayment of tax due under this part in the same manner as provided in Sections 6621(a)(1) and 6622 of the Internal Revenue Code.

(b)For purposes of determining interest on overpayments for periods beginning on or after July 1, 2002, interest shall be allowed and paid upon any overpayment of tax due under this part at the lesser of the following:

(1)Five percent.

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Legislative history

Amended by Stats. 2003, Ch. 697, Sec. 5. Effective January 1, 2004.