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 9.5. GENERATION SKIPPING TRANSFER TAX [16700 - 16950]

  ( Part 9.5 added by Stats. 1977, Ch. 1079. )

CHAPTER 3. Payment of Tax [16750 - 16761]

  ( Chapter 3 added by Stats. 1977, Ch. 1079. )

ARTICLE 2. Interest and Penalties [16760 - 16761]
  ( Article 2 added by Stats. 1977, Ch. 1079. )

16760.
  

If the tax is not paid before it becomes delinquent, it bears interest thereafter and until it is paid at the same rate per annum as provided in Section 6621(a)(2) of the Internal Revenue Code, compounded daily.

(Amended by Stats. 2000, Ch. 363, Sec. 8. Effective September 8, 2000. Operative January 1, 2001, by Sec. 11 of Ch. 363.)

16761.
  

Every payment on the tax imposed by this part is applied, first, to any interest due on the tax, and then, if there is any balance, to the tax itself.

(Added by Stats. 1977, Ch. 1079.)

RTCRevenue and Taxation Code - RTC2