Today's Law As Amended


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AB-1203 Taxation: interest: penalties.(2013-2014)



As Amends the Law Today


SECTION 1.

 Section 6595 is added to the Revenue and Taxation Code, to read:

6595.
 Notwithstanding any other law, on or after January 1, 2014, interest and penalties shall not be assessed against any person for failure to make payments of any taxes imposed under this part if all of the following apply:
(a) The tax is required to be collected from the taxpayer due to a court holding that a statute is unconstitutional.
(b) The taxpayer relied on that statute when calculating the amount of tax due.
(c) The tax is paid by the taxpayer within 60 days after the board sends a notice of determination to the taxpayer relating to the tax now required to be collected.

SEC. 2.

 Section 19396 is added to the Revenue and Taxation Code, to read:

19396.
 (a) Notwithstanding any other law, on or after January 1, 2014, penalties shall not be assessed against any taxpayer with respect to the additional tax of that taxpayer and interest shall not accrue against any taxpayer with respect to the additional tax of that taxpayer for periods prior to the date the taxpayer is notified of the additional tax due for the taxable year if all of the following apply:
(1) The additional tax is an increase in tax for a taxable year beginning on or after January 1, 2014, to the extent the increase is attributable to a court holding that a statute is unconstitutional, and the additional tax is required to be collected from the taxpayer due to that holding, as announced by the Franchise Tax Board.
(2) The taxpayer relied on that statute when calculating the amount of tax due.
(3) The additional tax is paid by the taxpayer within 60 days of the receipt of a notice of proposed assessment by the board or within the time allowed by an installment payment agreement entered into pursuant to Section 19008.