The correction was made and the refund was issued on March 15, 1991. The original payment for the first trimester covered the full corrected tax so the three percent discount was granted. The first trimester payment was made timely. The correction was made on January 15, 1991. Refund interest is not paid on an overpayment of delinquent interest.
Refund interest accrues only on the tax principal overpaid.
Any difference between the original late payment interest and the correct late payment interest is also included in the amount to be refunded. Full payment was made November 20, 1990. The refund was made March 18, 1991. Last revised January 16, 2001.