Laws, Regulations & Annotations

Business Taxes Law Guide – Revision 2011

Tax on Insurers Law

Chapter 4. Assessment and Effect of Tax*

Article 2. Initial Assessments

Section 12414

12414. Overpayments may be offset. 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.

History.—Added by Stats. 1961, p. 1985, operative January 1, 1962.

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