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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 4. Assessment and Effect of Tax*
Article 2. Initial Assessments
Section 12414
12414. Overpayments may be offset. In making an initial assessment the board may offset an overpayment for one calendar year against an underpayment for another calendar year, against penalties, and against any interest on an underpayment.
History—Added by Stats. 1961, p. 1985, operative January 1, 1962.
* Stats. 1961, p. 1984, operative January 1, 1962, amended the title of Chapter 4 by substituting "Effect of Tax" for "Levy".