"17. Can I use my registered warrant to pay my State taxes?
You can use a registered warrant to pay some of your State tax liabilities, although you will not receive interest unless you hold the warrant until it is redeemable. For more information, visit the Franchise Tax Board’s website at www.ftb.ca.gov."
from: http://www.sco.ca.gov/5935.html
"17. Can I use my registered warrant to pay my State taxes? You can use a registered warrant to pay some of your State tax liabilities, although you will not receive interest unless you hold the warrant until it is redeemable. For more information, visit the Franchise Tax Board’s website at www.ftb.ca.gov." from: http://www.sco.ca.gov/5935.html
And: "We will accept registered warrants that are not yet redeemable for full face value towards the payment of tax liabilities." from: http://www.ftb.ca.gov/aboutFTB/newsroom/Registered_Warrants....
Is the state not accepting them for payment of sales tax? Or?
Aside from that... 3.75% interest on those, that is tax free. Sounds like a deal to me.