Laws, Regulations and Annotations
Search
Business Taxes Law Guide—Revision 2024
Tax on Insurers Law
Revenue and Taxation Code
Division 2. Other Taxes
Part 7. Insurance Taxation
Chapter 7. Cancellations and Refunds*
Article 2. Refund or Credit for Collected Taxes²
Section 12977
12977. Credits and refunds. [Repealed by Stats. 2013, Ch. 33 (SB 78) in effect June 27, 2013.]
12977. Credits and refunds. [Repealed by Stats. 2013, Ch. 33 (SB 78), effective January 1, 2015.]
12977. Credits and refunds. (a) If the board determines that any tax, interest, or penalty has been paid more than once or has been erroneously or illegally collected or computed, the board shall set forth that fact in its records of the board, certify the amount of the taxes, interest, or penalties collected in excess of what was legally due, and from whom they were collected or by whom paid, and certify the excess to the Controller for credit or refund.
(b) The Controller upon receipt of a certification for credit or refund shall credit the excess on any amounts then due and payable from the insurer or surplus line broker under this part and refund the balance.
(c) Any determination by the board pursuant to this section with respect to an amount in excess of fifty thousand dollars ($50,000) shall be available as a public record for at least 10 days after the effective date of that determination.
(d) 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. Stats. 2024, Ch. 499 (SB 1528), in effect January 1, 2025, deleted "proposed" before "determination," and substituted "after" for "prior to" after "10 days" in subdivision (c).
* Stats. 1961, p. 1990, operative January 1, 1962, amended the title of Chapter 7 from "corrections" to "cancellations and refunds".
² Stats. 1961, p. 1990, operative January 1, 1962, amended the title of Article 2 from "Credit for Collected Taxes" to "Refund or Credit for Collected Taxes".