TAX NEWS - JUNE 2009

California tax: No Change to Adjusted Interest Rate for July to December 2009

June 2009 - The new adjusted interest rate for the period July 1, 2009, to December 31, 2009, is five percent, the same rate that is in effect for January 1 through June 30, 2009.

The interest rate1 is compounded daily, and accrues for personal income tax, corporate income tax, and franchise tax. The rate for corporation tax overpayments for the period is zero percent.

To find adjusted interest rates, both current and past, go to ftb.ca.gov and search for interest rates.