The FTB has released the interest rates for the period July 1, 2019, through December 31, 2019.
The adjusted interest rate for personal tax underpayments/overpayment and corporate underpayments is increased from 5% to 6% per year. This is the rate compounded daily that accrues with respect to various state taxes, including personal income, corporate income, and franchise tax.
The rate for corporate tax overpayments will remain at 2% per year.
|If you’re looking for the most comprehensive California tax manual, look no further than Spidell’s Analysis & Explanation of California Taxes® (The Big Blue Answer Book™). It’s easy to understand, extensively cited, and contains coherent analysis, comprehensive charts, and illustrative examples.|