California Revenue and Taxation Code

§ 19521

RTC § 19521 Effective Jun 27, 2019Div. 2 · Part 10.2 · Ch. 7 · Art. 1

Statute text

(a)The rate established under this section (referred to in other code sections as “the adjusted annual rate”) shall be determined in accordance with Section 6621 of the Internal Revenue Code, except that:

(1)(A) For taxpayers other than corporations, the overpayment rate specified in Section 6621(a)(1) of the Internal Revenue Code shall be modified to be equal to the underpayment rate determined under Section 6621(a)(2) of the Internal Revenue Code.

(B)In the case of any corporation, for purposes of determining interest on overpayments for periods beginning before July 1, 2002, the overpayment rate specified in Section 6621(a)(1) of the Internal Revenue Code shall be modified to be equal to the underpayment rate determined under Section 6621(a)(2) of the Internal Revenue Code.

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Legislative history

Amended by Stats. 2019, Ch. 38, Sec. 39. (SB 78) Effective June 27, 2019.