Laws, Regulations & Annotations

Business Taxes Law Guide – Revision 2011

Tax on Insurers Law

Chapter 8. Taxpayer's Suits.

Section 13107

13107. Interest. In any judgment, interest shall be allowed, subject to the same limitations as are prescribed by Section 12984, at the modified adjusted rate per annum established pursuant to Section 6591.5, upon the amount found to have been illegally collected from the date of payment of the amount to the date of allowance of credit on account of the judgment or to a date preceding the date of the refund warrant by not more than 30 days, the date to be determined by the Controller.

History.—Stats. 1961, p. 1993, operative January 1, 1962, repealed former Section 13107, which provided that an action might be brought only upon the grounds stated in the protest, and added the present Section 13107. Stats. 1975, Ch. 661, operative to interest accruing on or after January 1, 1976, substituted "12 percent" for "6 percent." Stats. 1982, Ch. 5, First Extra Session, in effect May 27, 1982, substituted "adjusted . . . 19269" for "rate . . . annum" before "upon." Stats. 1984, Ch. 1020, operative July 1, 1985, added "modified" before "adjusted", deleted "annual" before "rate", added "per annum" before "established" and substituted "Section 6591.5" for "Section 19269".