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AB-2680 Franchise Tax Board: income taxes and bank and corporation taxes: deficiencies: protests.(2001-2002)

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CALIFORNIA LEGISLATURE— 2001–2002 REGULAR SESSION

Assembly Bill
No. 2680

Introduced  by  Assembly Member Cox

February 22, 2002

An act to amend Section 19041 of the Revenue and Taxation Code, relating to taxation.


LEGISLATIVE COUNSEL'S DIGEST


AB 2680, as introduced, Cox. Franchise Tax Board: income taxes and bank and corporation taxes: deficiencies: protests.
The franchise Tax Board is the agency authorized to administer and enforce the Personal Income Tax Law and the Bank and Corporation Tax Law, including issuing assessments for tax deficiencies. Existing law allows a taxpayer to file a written protest against a tax deficiency assessment within 60 days after the deficiency notice is issued. Under existing law, there is no established period of time by which the Franchise Tax Board is required to act upon a filed protest.
This bill would require the Franchise Tax Board to issue a notice of action upon a filed protest, unless the taxpayer agrees to an extension of time, no later than 2 years from the date the written protest was filed.
Vote: MAJORITY   Appropriation: NO   Fiscal Committee: YES   Local Program: NO  

The people of the State of California do enact as follows:


SECTION 1.

 Section 19041 of the Revenue and Taxation Code is amended to read:

19041.
 (a) Within 60 days after the mailing of each notice of proposed deficiency assessment the taxpayer may file with the Franchise Tax Board a written protest against the proposed deficiency assessment, specifying in the protest the grounds upon which it is based.
(b) Any protest filed with the Franchise Tax Board on or before the last date specified for filing that protest by the Franchise Tax Board in the notice of proposed deficiency assessment (according to Section 19034) shall be treated as timely filed.
(c) Unless a taxpayer agrees to an extension of time for issuance of a notice of action, the Franchise Tax Board shall issue a notice of action upon a protest no later than two years from the date the protest was filed by the taxpayer.
(d) The amendments made by the act adding this subdivision Section 11 of Chapter 931 of the Statutes of 1999 shall apply to any notice mailed after December 31, 1999.