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 4. Assessment and Effect of Tax [12301 - 12495]
( Heading of Chapter 4 amended by Stats. 1961, Ch. 740. ) ARTICLE 3. Deficiency Assessments [12421 - 12435]
( Article 3 repealed (comm. with Section 12462) and added by Stats. 1961, Ch. 740. ) 12426.
In making a deficiency assessment the board may offset an overpayment for one calendar year against an underpayment for another calendar year, against penalties and against any interest on an underpayment.
(Added by Stats. 1961, Ch. 740.)