Code Section Group

Revenue and Taxation Code - RTC

DIVISION 2. OTHER TAXES [6001 - 60709]

  ( 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 2. Initial Assessments [12411 - 12414]
  ( Article 2 repealed (comm. with Section 12431) and added by Stats. 1961, Ch. 740. )

12411.
  

A duplicate copy of each tax return received by the commissioner shall be promptly forwarded to the board.

(Added by Stats. 1961, Ch. 740.)

12412.
  

(a) Upon receipt of the duplicate copy of the return of an insurer the board shall initially assess the tax in accordance with the data as reported by the insurer on the return.

(b) This section shall become operative on July 1, 2013.

(Repealed (in Sec. 48) and added by Stats. 2013, Ch. 33, Sec. 49. (SB 78) Effective June 27, 2013. Section operative July 1, 2013, by its own provisions.)

12413.
  

(a) The board shall promptly transmit notice of its initial assessment to the commissioner and the Controller, and if the initial assessment differs from the amount computed by the insurer, notice shall also be given to the insurer.

(b) This section shall become operative on July 1, 2013.

(Repealed (in Sec. 51) and added by Stats. 2013, Ch. 33, Sec. 52. (SB 78) Effective June 27, 2013. Section operative July 1, 2013, by its own provisions.)

12414.
  

In making an initial 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.)

RTCRevenue and Taxation Code - RTC2