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AB-449 Income taxes: administration.(2017-2018)

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Date Published: 02/13/2017 02:00 PM
AB449:v99#DOCUMENT


CALIFORNIA LEGISLATURE— 2017–2018 REGULAR SESSION

Assembly Bill No. 449


Introduced by Assembly Member Calderon

February 13, 2017


An act to amend Section 19133 of the Revenue and Taxation Code, relating to taxation.


LEGISLATIVE COUNSEL'S DIGEST


AB 449, as introduced, Calderon. Income taxes: administration.
Under existing law, the Franchise Tax Board is authorized to impose a penalty for failure to file a return upon notice and demand and failure to furnish information in response to a written request. Under existing law, this penalty amount is 25% of the amount of tax determined to be owed or of any deficiency tax assessed by the Franchise Tax Board.
This bill would instead reduce the penalty amount that the Franchise Tax Board may impose to 15% of the amount of total unpaid tax or of any deficiency tax assessed.
Vote: MAJORITY   Appropriation: NO   Fiscal Committee: YES   Local Program: NO  

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


SECTION 1.

 Section 19133 of the Revenue and Taxation Code is amended to read:

19133.
 If any taxpayer fails or refuses to furnish any information requested in writing by the Franchise Tax Board or fails or refuses to make and file a return required by this part upon notice and demand by the Franchise Tax Board, then, unless the failure is due to reasonable cause and not willful neglect, the Franchise Tax Board may add a penalty of 25 15 percent of the amount of the total unpaid tax determined pursuant to Section 19087 or of any deficiency tax assessed by the Franchise Tax Board concerning the assessment of which the information or return was required.