Revenue and Taxation Code - RTC
DIVISION 2. OTHER TAXES [6001 - 61050]
( Heading of Division 2 amended by Stats. 1968, Ch. 279. ) PART 7. INSURANCE TAXATION [12001 - 13170]
( Part 7 added by Stats. 1941, Ch. 113. ) CHAPTER 3. All Insurance Other Than Ocean Marine [12201 - 12260]
( Chapter 3 added by Stats. 1941, Ch. 113. ) ARTICLE 5. Prepayments [12251 - 12260]
( Article 5 repealed and added by Stats. 1969, Ch. 736. ) 12257.
(a) If the total amount of prepayments for any calendar year exceeds the amount of annual tax for that year, the excess shall be treated as an overpayment of annual tax and, at the election of the insurer, may be credited against the amounts due and payable for the first prepayment of the following year. Any amount of the overpayment not so credited shall be allowed as a credit or refund under Article 2
(commencing with Section 12977) of Chapter 7 of this part.
(b) This section shall become operative on July 1, 2013.
(Repealed (in Sec. 21) and added by Stats. 2013, Ch. 33, Sec. 22. (SB 78) Effective June 27, 2013. Section operative July 1, 2013, by its own provisions.)