Laws, Regulations and Annotations


Business Taxes Law Guide—Revision 2024

Tax on Insurers Annotations

Voluntary Payments

The Board can accept the voluntary payment of taxes that have been underreported for periods which the Board is barred by the statute of limitations from issuing a deficiency assessment. The Board may also retain any interest voluntarily paid with respect to those taxes. The basis for retaining such interest would be its voluntary payment. The Board cannot affirmatively attempt to collect interest on voluntarily-paid taxes in any manner, whether by deficiency assessment or billing. Any claim for refund of voluntary payments on taxes that are barred by the statute of limitations, is governed by Revenue and Taxation Code section 12978. 11/15/90. (Am. 2003–3).