Laws, Regulations & Annotations

Business Taxes Law Guide – Revision 2010
 

Tax on Insurers Law

Chapter 4. Assessment and Effect of Tax*

Article 2. Initial Assessments

Section 12412

12412. Initial assessment of tax. (a) Upon receipt of the duplicate copy of the return of an insurer or Medi-Cal managed care plan the board shall initially assess the tax in accordance with the data as reported by the insurer or Medi-Cal managed care plan on the return.

(b) This section shall remain in effect only until January 1, 2011, and as of that date is repealed.

History.—Added by Stats. 1961, p. 1985, operative January 1, 1962. Stats. 2009, Ch. 157 (AB 1422), in effect September 22, 2009, designated the first sentence as subdivision (a) and added "or Medi-Cal managed care plan" twice in subdivision (a); and added subdivision (b).

Text of section operative January 1, 2011

12412. Initial assessment of tax. (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 January 1, 2011.

History.—Added by Stats. 2009, Ch. 157 (AB 1422), in effect September 22, 2009, but operative January 1, 2011.

* Stats. 1961, p. 1984, operative January 1, 1962, amended the title of Chapter 4 by substituting "Effect of Tax" for "Levy".