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Section 40116 Of Article 1. Claim For Refund From California Revenue And Taxation Code >> Division 2. >> Part 19. >> Chapter 5. >> Article 1.
40116
. Interest at the modified adjusted rate per month established
pursuant to Section 6591.5, shall be paid upon any overpayment of
any amount of surcharge 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 as follows:
(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 surcharge or amount against which the credit is applied.
(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 surcharge or amount against which the credit is applied.
