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Business Taxes Law Guide—Revision 2024
Sales And Use Tax Law
Revenue and Taxation Code
Division 2. Other Taxes
Part 1. Sales and Use Taxes
Chapter 7. Overpayments and Refunds
Article 1. Claim for Refund
Section 6907
6907. Interest. Interest shall be paid upon any overpayment of any amount of tax at the modified adjusted rate per month established pursuant to Section 6591.5, from the first day of the calendar month following the month during which the overpayment was made. In addition, a refund or credit shall be made of any interest imposed upon the person making the overpayment with respect to the amount being refunded or credited.
The interest shall be paid:
(a) In the case of a refund, to the last day of the calendar month following the date upon which the person making the overpayment, if he or she has not already filed a claim, is notified by the board that a claim may be filed or the date upon which the claim is approved by the board, whichever date is the earlier.
(b) In the case of a credit, to the same date as that to which interest is computed on the tax or amount against which the credit is applied.
History—Stats. 1945, p. 1726, operative July 1, 1945, added "if he has not already filed a claim," to (a). Stats. 1947, p. 1558, operative July 1, 1947, substituted "last" for "fifteenth" in first paragraph. Stats. 1949, p. 1343, operative July 1, 1949, substituted "person making the overpayment" for "claimant" in the first paragraph and in (a); substituted "last" for "fifteenth" and "approved by the board" for "certified to the State Board of Control" in (a). Stats. 1949, p. 1167, approved by the Governor prior to p. 1343, would also have amended this section. Stats. 1975, Ch. 661, operative to interest accruing on or after January 1, 1976, substituted "1 percent" for "one-half of 1 percent." Stats. 1982, Ch. 5, First Extra Session, in effect May 27, 1982, substituted "adjusted … 19269" for "rate … month" before "from" in the first sentence. Stats. 1983, Ch. 10 (1X), in effect February 17, 1983, added "and by the method" after "rate" in the first paragraph. Stats. 1984, Ch. 1020, effective January 1, 1985, operative July 1, 1985, added "modified" before "adjusted," deleted "annual" before "rate," substituted "per month" for "and by the method" before "established," substituted "Section 6591.5" for "Section 19269." Stats. 1991, Ch. 85, in effect June 30, 1991, operative July 1, 1991, substituted "at 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." for "at the modified adjusted rate per month established pursuant to Section 6591.5,", added "Interest shall be paid" before "From the", and substituted "From" for "from" after "shall be paid" in the first paragraph. Stats. 1991, Ch. 236, effective July 29, 1991, substituted "at the modified adjusted rate per month established pursuant to Section 6591.5," for "at 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."; deleted "Interest shall be paid" before "From the"; substituted "from" for "From" after "Section 6591.5"; substituted "first" for "last" after "from the"; substituted "month during" for "quarterly period for"; and substituted ". In addition, a" for "; but no" after "overpayment was made" in the first paragraph.