Laws, Regulations & Annotations

Property Taxes Law Guide – Revision 2014
 

Revenue and Taxation Code

Division 2. Other Taxes

Part 18.5. Timber Yield Tax

Chapter 5. Determinations

Article 6. Interest and Penalties

Section 38451

38451. Interest and penalties. Any person who fails to pay any tax to the state or any amount of tax required to be collected and paid to the state, except amounts of determinations made by the board under Articles 2 or 3 of this chapter, within the time required shall pay a penalty of 10 percent of the tax or amount of the tax, in addition to the tax or the amount of tax, plus interest at the adjusted annual rate established pursuant to Section 19521 from the date on which the tax or the amount of tax required to be collected became due and payable to the state until the date of payment.

History.—Stats. 1982, Ch. 5 (First Extra Session), in effect June 1, 1982, substituted "adjusted annual rate established pursuant to Section 19269" for "rate of 1 percent per month, or fraction thereof," after "interest at the". Stats. 1996, Ch. 1087, in effect January 1, 1997, substituted "or the amount" for "or amount" after "in addition to the tax", and substituted "Section 19521" for "Section 19269" after "established pursuant to".

Note.—Section 89 of Stats. 1982, Ch. 5 (First Extra Session) provided that the provisions of this act shall apply to all interest and additions to tax accruing on or after the effective date of this act.