California Revenue and Taxation Code

§ 38451.5

RTC § 38451.5 Effective Jan 1, 2022Div. 2 · Part 18.5 · Ch. 5 · Art. 6

Statute text

(a)If the department finds, taking into account all facts and circumstances, that it is inequitable to compute interest at the modified adjusted rate per month or fraction thereof, as defined in Section 6591.5, interest shall be computed at the modified adjusted daily rate from the date on which the tax was due until the date of payment, if all of the following occur:

(1)The payment of the tax was made one business day after the date the tax was due.

(2)The person was granted relief from all penalties that applied to that tax payment.

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Legislative history

Added by Stats. 2021, Ch. 432, Sec. 36. (SB 824) Effective January 1, 2022.