§ 19777.5. — 19777.5. (Amended by Stats. 2005, Ch. 398, Sec. 8.)

California § 19777.5.

• Jurisdiction: California
• Code RTC: Revenue and Taxation Code - RTC
• Div. 2.: DIVISION 2. OTHER TAXES
• Part 10.2.: PART 10.2. ADMINISTRATION OF FRANCHISE AND INCOME TAX LAWS
• Ch. 9.5.: CHAPTER 9.5. Tax Shelters
• Art. 4.: ARTICLE 4. Penalties and Interest

Text

(a)
There shall be added to the tax for each taxable year for which amnesty could have been requested:
(1)
For amounts that are due and payable on the last day of the amnesty period, an amount equal to 50 percent of the accrued interest payable under Section 19101 for the period beginning on the last date prescribed by law for the payment of that tax (determined without regard to extensions) and ending on the last day of the amnesty period specified in Section 19731.
(2)
For amounts that become due and payable after the last date of the amnesty period, an amount equal to 50 percent of the interest computed under Section 19101 on any final amount, including final deficiencies and self-assessed amounts, for the period beginning on the last date prescribed by law for the payment of the tax for the year of the deficiency (determined without regard to extensions) and ending on the last day of the amnesty period specified in Section 19731.
(3)
For purposes of paragraph (2), Sections 19107, 19108, 19110, and 19113 shall apply in determining the amount computed under Section 19101.
(b)
The penalty imposed by this section is in addition to any other penalty imposed under Part 10 (commencing with Section 17001), Part 11 (commencing with Section 23001), or this part.
(c)
This section does not apply to any amounts that are treated as paid during the amnesty program period under paragraph (4) of subdivision (a) of Section 19733 or paragraph (1) of subdivision (b) of Section 19733.
(d)
Article 3 (commencing with Section 19031), (relating to deficiency assessments) shall not apply with respect to the assessment or collection of any penalty imposed by subdivision (a).
(e)
(1)
Notwithstanding Chapter 6 (commencing with Section 19301), a taxpayer may not file a claim for refund or credit for any amounts paid in connection with the penalty imposed in subdivision (a), except as provided in paragraph (2).
(2)
A taxpayer may file a claim for refund for any amounts paid to satisfy a penalty imposed under
subdivision (a) on the grounds that the amount of the penalty was not properly computed by the Franchise Tax Board.
(f)
Notwithstanding Section 18415, the amendments made to this section by the act adding this subdivision shall apply to penalties imposed under paragraph (2) of subdivision (a) after March 31, 2005.

Legislative History

Amended by Stats. 2005, Ch. 398, Sec. 8. Effective September 29, 2005.