Laws, Regulations & Annotations

Business Taxes Law Guide – Revision 2014
 

Tax on Insurers Law

Chapter 4. Assessment and Effect of Tax*

Article 3. Deficiency Assessments

Section 12421

Text of section operative through June 30, 2012

12421. Determination of correct amount of tax. (a) As soon as practicable after an insurer's, surplus line broker's, or Medi-Cal managed care plan's return is filed, the commissioner shall examine it, together with any information within his or her possession or that may come into his or her possession, and he or she shall determine the correct amount of tax of the insurer, surplus line broker, or Medi-Cal managed care plan.

(b) This section shall become inoperative on July 1, 2012, and, as of January 1, 2013, is repealed, unless a later enacted statute, that becomes operative on or before July 1, 2012, deletes or extends the dates on which it becomes inoperative and is repealed.

History.—Added by Stats. 1961, p. 1985, operative January 1, 1962. Stats. 1995, Ch. 721, in effect January 1, 1996, substituted "an insurer's or surplus line broker's" for "the" after "as practicable after", added "or her" after "information within his" and after "come into his", added "or she" after "possession, and he", and added "or surplus line broker" after "of the insurer". Stats. 2009, Ch. 157 (AB 1422), in effect September 22, 2009, designated the first sentence as subdivision (a), added a comma and deleted "or" before "surplus line broker" twice, and added ", or Medi-Cal managed care plan after "surplus line broker" twice in subdivision (a); and added subdivision (b). Stats. 2010, Ch. 717 (SB 853), in effect October 19, 2010, deleted former subdivision (b) which provided that "This section shall remain in effect only until January 1, 2011, and as of that date is repealed." and added the new subdivision (b). Stats. 2011, Ch. 11x1 (ABx1 21), in effect September 16, 2011, substituted "2012" for "2011" after "inoperative on July 1,", substituted "2013" for "2012" after "as of January 1,", substituted "July" for "January" after "operative on or before" in subdivision (b).deletion

12421. Determination of correct amount of tax. [Repealed by Stats. 2013, Ch. 33 (SB 78) in effect June 27, 2013.]

TEXT OF SECTION OPERATIVE JULY 1, 2012, THROUGH JUNE 30, 2013

12421. Determination of correct amount of tax. (a) As soon as practicable after an insurerís, surplus line brokerís, or Medi-Cal managed care planís return is filed, the commissioner shall examine it, together with any information within his or her possession or that may come into his or her possession, and he or she shall determine the correct amount of tax of the insurer, surplus line broker, or Medi-Cal managed care plan.

(b) This section shall be operative on July 1, 2012, and become inoperative on July 1, 2013. As of January 1, 2015, this section shall be repealed.

History.—Added by Stats., 2013, Ch. 33 (SB 78), in effect June 27, 2013, but operative July 1, 2012.

TEXT OF SECTION OPERATIVE JULY 1, 2013

12421. Determination of correct amount of tax. (a) As soon as practicable after an insurerís or surplus line brokerís return is filed, the commissioner shall examine it, together with any information within his or her possession or that may come into his or her possession, and he or she shall determine the correct amount of tax of the insurer or surplus line broker.

(b) This section shall become operative on July 1, 2013.

History.—Added by Stats., 2013, Ch. 33 (SB 78), in effect June 27, 2013, but operative July 1, 2013.

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