2011 California Code
Revenue and Taxation Code
DIVISION 2. OTHER TAXES [6001 - 60708]
ARTICLE 5. Prepayments
Section 12257
(a) If the total amount of prepayments for any calendar year exceeds the amount of annual tax for that year, the excess shall be treated as an overpayment of annual tax and, at the election of the insurer, may be credited against the amounts due and payable for the first prepayment of the following year. Any amount of the overpayment not so credited shall be allowed as a credit or refund under Article 2 (commencing with Section 12977) of Chapter 7 of this part.
(b) This section shall become operative on July 1, 2012.
(Amended (as amended by Stats. 2010, Ch. 717, Sec. 44) by Stats. 2011, 1st Ex. Sess., Ch. 11, Sec. 15. Effective September 16, 2011. Section operative July 1, 2012, by its own provisions. Amendment conditionally inoperative as provided in Sec. 92 of Ch. 11.)
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