Laws, Regulations and Annotations


Business Taxes Law Guide—Revision 2024

Energy Resources Surcharge Law

Revenue and Taxation Code

Division 2. Other Taxes
Part 19. Energy Resources Surcharge Law

Chapter 5. Overpayments and Refunds

Article 1. Claim for Refund

Section 40116

40116. Interest on overpayment. 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.

History—Stats. 1977, Ch. 624, effective January 1, 1978, deleted "at the rate of one-half of 1 percent per month" from the first sentence, and added new paragraph (c). Stats. 1982, Ch. 5, First Extra Session, in effect May 27, 1982, substituted "adjusted … 19269" for "rate … thereafter" after "at the" in subdivision (c). Stats. 1984, Ch. 1020, operative July 1, 1985, added "at … Section 6591.5" after "interest", added "or she" after "he", and deleted paragraph (c). Stats 1992, Ch. 1336, in effect January 1, 1993, substituted "first" for "last" after "from the", and substituted "month during … addition, a" for "quarterly period for which the overpayment was made; but no" after "month following" in the first paragraph. Stats. 1997, Ch. 620 (SB 1102), in effect January 1, 1998, deleted ", or fraction thereof," after "rate per month" in the first sentence of the first paragraph and added "calendar" after "day of the" in subdivision (a).