CHAPTER 4. Assessment and Effect of Tax [12301. - 12495.]

Heading of Chapter 4 amended by Stats. 1961, Ch. 740.

§§ 12301–12495 · 31 sections

1. ARTICLE 1. Tax Returns and Initial Payments §§ 12301–12307 · 7 sections

   • § 12301 (a) The taxes imposed upon insurers by Section 28 of Article XIII of the California Constitution and this part, except with respect to taxes on ocean marine…
   • § 12302 (a) On or before April 1 (or June 15 with respect to taxes on ocean marine insurance) every person that is subject to any tax imposed by Section 28 of Article…
   • § 12303 (a) Every return required by this article to be filed with the commissioner shall be signed by the insurer or an executive officer of the insurer and shall be…
   • § 12304 (a) Blank forms of returns shall be furnished by the commissioner on application, but failure to secure the form shall not relieve any insurer from making or…
   • § 12305 (a) The insurer required to file a return shall deliver the return in duplicate, together with a remittance payable to the Controller, for the amount of tax…
   • § 12306 The commissioner, for good cause shown, may extend for not to exceed 30 days the time for filing a tax return or paying any amount required to be paid with the…
   • § 12307 (a) Any insurer that is granted an extension shall pay, in addition to the tax, interest at the modified adjusted rate per month, or fraction thereof,…
2. ARTICLE 2. Initial Assessments §§ 12411–12414 · 4 sections

   • § 12411 A duplicate copy of each tax return received by the commissioner shall be promptly forwarded to the board.
   • § 12412 (a) Upon receipt of the duplicate copy of the return of an insurer the board shall initially assess the tax in accordance with the data as reported by the…
   • § 12413 (a) The board shall promptly transmit notice of its initial assessment to the commissioner and the Controller, and if the initial assessment differs from the…
   • § 12414 In making an initial assessment the board may offset an overpayment for one calendar year against an underpayment for another calendar year, against penalties,…
3. ARTICLE 3. Deficiency Assessments §§ 12421–12435 · 15 sections

   • § 12421 (a) As soon as practicable after an insurer’s or surplus line broker’s return is filed, the commissioner shall examine it, together with any information within…
   • § 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…
   • § 12423 (a) If an insurer or surplus line broker fails to file a return, the commissioner may require a return by mailing notice to the insurer or surplus line broker…
   • § 12424 The board shall make a deficiency assessment on the basis of a proposal submitted to it by the commissioner pursuant to Section 12422 or 12423.
   • § 12425 One or more deficiency assessments may be proposed or made for the amount of tax due for one or for more than one calendar year.
   • § 12426 In making a deficiency assessment the board may offset an overpayment for one calendar year against an underpayment for another calendar year, against…
   • § 12427 (a) The board shall promptly notify the insurer or surplus line broker of a deficiency assessment made against the insurer or surplus line broker. (b) This…
   • § 12428 (a) An insurer or surplus line broker against which a deficiency assessment is made under Section 12424 or 12425 may petition for redetermination of the…
   • § 12429 (a) If a petition for redetermination of a deficiency assessment is filed within the time allowed under Section 12428, the board shall reconsider the…
   • § 12430 The board may decrease or increase the amount of the deficiency assessment before the deficiency assessment becomes final, but the amount may be increased only…
   • § 12431 (a) The order or decision of the board upon a petition for redetermination of a deficiency assessment becomes final 30 days after service on the insurer or…
   • § 12432 Except for a notice given pursuant to Section 12430 or 12431, or in the case of fraud or the failure to file a return, every notice of a deficiency assessment…
   • § 12433 (a) If before the expiration of the time prescribed in Section 12432 for giving of a notice of deficiency assessment the insurer or surplus line broker has…
   • § 12434 (a) Any notice required by this article shall be placed in a sealed envelope, with postage paid, addressed to the insurer or surplus line broker at its address…
   • § 12435 A copy of each notice of a deficiency assessment made by the board shall be transmitted to the commissioner and the Controller. The Controller shall keep an…
4. ARTICLE 4. Effect of Tax §§ 12491–12495 · 5 sections

   • § 12491 (a) Every tax levied upon an insurer under the provisions of Article XIII of the California Constitution and of this part is a lien upon all property and…
   • § 12492 Every lien attaches as of 12:01 a.m. on the first day of March of the calendar year in which the tax is levied.
   • § 12493 (a) Every lien has the effect of an execution duly levied against all property of a delinquent insurer or surplus line broker. (b) This section shall become…
   • § 12494 (a) No judgment is satisfied nor lien removed until either: (1) The taxes, interest, penalties, and costs are paid. (2) The insurer’s or surplus line broker’s…
   • § 12495 No court shall make and enter a final discharge in bankruptcy or decree of dissolution, nor shall any county clerk or the Secretary of State file a discharge,…