Laws, Regulations & Annotations

Business Taxes Law Guide – Revision 2010
 

Tax on Insurers Law

Chapter 4. Assessment and Effect of Tax*

Article 3. Deficiency Assessments

Section 12431

12431. Finality date. (a) The order or decision of the board upon a petition for redetermination of a deficiency assessment becomes final 30 days after service on the insurer, deletionsurplus line broker, or Medi-Cal managed care plan of a notice thereof, and any resulting deficiency assessment is due and payable at the time the order or decision becomes final.

(b) This section shall remain in effect only until January 1, 2011, and as of that date is repealed.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. 1987, operative January 1, 1962. Former Section 12431, repealed by Stats. 1961, p. 1985, provided for an annual assessment of taxes upon insurers. Stats. 1995, Ch. 721, in effect January 1, 1996, added "or surplus line broker" after "on the insurer". Stats. 2009, Ch. 157 (AB 1422), in effect September 22, 2009, designated the first sentence as subdivision (a), deleted "or" and added a comma before "surplus line broker", and added ", or Medi-Cal managed care plan" after "surplus line broker" in subdivision (a); and added subdivision (b).

Text of section operative January 1, 2011

12431. Finality date. (a) The order or decision of the board upon a petition for redetermination of a deficiency assessment becomes final 30 days after service on the insurer or surplus line broker of a notice thereof, and any resulting deficiency assessment is due and payable at the time the order or decision becomes final.

(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".