California – Interest and Penalties Regulation Amended

SALT Report 2949 – The California State Board of Equalization amended Regulation 1703 to incorporate certain provisions of Senate Bill 1028, which authorizes members of the BOE to find that it is “inequitable to compute interest on a monthly basis and to, instead, compute interest on a daily basis” on taxpayers who meet certain criteria.

The amendments to the regulation were effective August 28, 2013.

For Further Information

California State Board of Equalization – Regulation 1703

Regulatory 1703 History

California State Legislature – Senate Bill 1028, Laws 2010