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2023 California Code
Revenue and Taxation Code - RTC
DIVISION 2 - OTHER TAXES
PART 7 - INSURANCE TAXATION
CHAPTER 4 - Assessment and Effect of Tax
ARTICLE 3 - Deficiency Assessments
Section 12422.

Universal Citation:
CA Rev & Tax Code § 12422 (2023)
Learn more This media-neutral citation is based on the American Association of Law Libraries Universal Citation Guide and is not necessarily the official citation.
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12422. (a) If the commissioner determines that the amount of tax disclosed by the insurer’s tax return and assessed by the board is less than the amount of tax disclosed by his or her examination, he or she shall propose, in writing, to the board a deficiency assessment for the difference. The proposal shall set forth the basis for the deficiency assessment and the details of its computation.

(b) If the commissioner determines that the amount of tax disclosed by the surplus line broker’s tax return is less than the amount of tax disclosed by his or her examination, he or she shall propose, in writing, to the board a deficiency assessment for the difference. The proposal shall set forth the basis for the deficiency assessment and the details of its computation.

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

(Repealed (in Sec. 57) and added by Stats. 2013, Ch. 33, Sec. 58. (SB 78) Effective June 27, 2013. Section operative July 1, 2013, by its own provisions.)

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