Laws, Regulations & Annotations

Business Taxes Law Guide – Revision 2013
 

Transactions And Use Tax Law

CHAPTER 4 REFUNDS OF UNCONSTITUTIONAL TAXES*

Section 7279

7279. Interest on refunds; board's costs. (a) The total amount of refunds paid under this chapter shall be the amount of the impounded revenues derived from the unconstitutional tax plus any interest earned on that amount that remains after valid claims for refund filed prior to the effective date of the act adding this chapter are paid and the reserve amount described in paragraph (2) of subdivision (d) of Section 7275 is established.

(b) The board's actual and reasonable costs of administering refunds in accordance with this section and Section 7277, as approved by the Department of Finance, may be paid from the amount that is set aside for refunds under this chapter and may be paid prior to the payment of any claim for refund.

* Chapter 4 was added by Stats. 1993, Ch. 1060, effective October 11, 1993.