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Business Taxes Law Guide—Revision 2024

Tax on Insurers Law

Revenue and Taxation Code

Division 2. Other Taxes
Part 7. Insurance Taxation

Chapter 3. All Insurance Other Than Ocean Marine

Article 5. Prepayments*

Section 12257


12257. Overpayment. [Repealed by Stats. 2013, Ch. 33 (SB 78) in effect June 27, 2013.]


12257. Overpayment. [Repealed by Stats. 2013, Ch. 33 (SB 78), effective January 1, 2015.]


12257. Overpayment. (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, 2013.

History—Added by Stats. 2013, Ch. 33 (SB 78), in effect June 27, 2013, but operative July 1, 2013.


* Article 5 was added by Stats. 1969, p. 1473, in effect August 14, 1969, operative January 1, 1970.