FTB interest rates increase for first half of 2023

The FTB has released the adjusted interest rates effective for the period January 1, 2023, through June 30, 2023.

The rate compounded daily for personal income tax underpayments and overpayments and corporate income and franchise tax underpayments is 5% (up from 3%).

The rate for corporation tax overpayments for the period is 2% (up from 0%).