Laws, Regulations & Annotations

Business Taxes Law Guide – Revision 2018

Sales and Use Tax Annotations

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320.0000 INTEREST AND PENALTIES—Regulation 1703

Annotation 320.0048

320.0048 Credit Interest. Assuming that a timely, valid claim for refund is received, the Board is only authorized to pay credit interest on the overpayment of tax. Revenue and Taxation Code section 6907 expressly limits the payment of credit interest to refunds or credits arising from the overpayment of tax. Overpayments of interest and penalty are credited or refunded without the payment of credit interest. 9/18/02. (2003–3).