Laws, Regulations & Annotations

Business Taxes Law Guide – Revision 2013
 

Sales And Use Tax Law

CHAPTER 7. OVERPAYMENTS AND REFUNDS

Article 2. Suit for Refund

Section 6936

6936. Interest. In any judgment, interest shall be allowed at the modified adjusted rate per annum established for overpayments 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 board.

History.—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. 1983, Ch. 10 (1X), in effect February 17, 1983, added "and by the method" after "rate". Stats. 1984, Ch. 1020, effective January 1, 1985, operative July 1, 1985, added "modified" before "adjusted," deleted "annual" before "rate," substituted "per annum" for "and by the method," substituted "Section 6591.5" for "Section 19269." Stats. 1991, Ch. 85, in effect June 30, 1991, operative July 1, 1991, substituted "a rate equal to the average of the bond equivalent rates of the 13-week treasury bills auctioned during the period for which interest is paid. Interest shall be paid" for "the modified adjusted rate per annum established pursuant to Section 6591.5" after "allowed at". Stats. 1991, Ch. 236, in effect July 29, 1991, substituted "the modified adjusted rate per annum established for overpayments pursuant to Section 6591.5" for "a rate equal to the average of the bond equivalent rates of the 13-week treasury bills auctioned during the period for which interest is paid. Interest shall be paid" after ''allowed at".