Laws, Regulations & Annotations
Business Taxes Law Guide – Revision 2013
Tax on Insurers Law
Chapter 4. Assessment and Effect of Tax*
Article 3. Deficiency Assessments
12426. Overpayments may be offset. In making a deficiency 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. 1986, 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".