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Business Taxes Law Guide—Revision 2024
Fee Collection Procedures Law
Revenue and Taxation Code
Division 2. Other Taxes
Part 30. Fee Collection Procedures Law
Chapter 5. Overpayments and Refunds
Article 1. Claim for Refund
Section 55225
55225. Interest on overpayments. Interest shall be computed, allowed, and paid upon any overpayment of any amount of fee at the modified adjusted rate per month established pursuant to Section 6591.5, from the first day of the monthly period following the period during which the overpayment was made. For purposes of this section, "monthly period" means the period commencing on the day after the due date of the payment and continuing through the same date in the immediately following month. In addition, a refund or credit shall be made of any interest imposed upon the claimant with respect to the amount being refunded or credited.
The interest shall be paid as follows:
(a) In the case of a refund, to the last day of the monthly period following the date upon which the claimant, 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 earlier.
(b) In the case of a credit, to the same date as to that to which interest is computed on the fee or amount against which the credit is applied.
History—Stats. 1996, Ch. 1087, in effect January 1, 1997, substituted "monthly period following the period" for "calendar month following the month" after "day of the" in the first sentence, added "For purposes of … immediately following month." as the second sentence of, the first paragraph and substituted "last day of the monthly period" for "15th day of the calendar month" after "refund, to the" in, and deleted "or the date upon which the claim is certified to the State Board of Control, whichever date is earlier" after "may be filed" in, subdivision (a). Stats. 1997, Ch. 620 (SB 1102), in effect January 1, 1998, added ", if he or she has not already filed a claim," after "which the claimant" and added "or the date … date is earlier" after "may be filed" in subdivision (a).