Bill Text: CA AB2638 | 2009-2010 | Regular Session | Introduced
Bill Title: Corporate income taxes: time for assessments.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2010-02-22 - Read first time. [AB2638 Detail]
Download: California-2009-AB2638-Introduced.html
BILL NUMBER: AB 2638 INTRODUCED
BILL TEXT
INTRODUCED BY Assembly Member Silva
FEBRUARY 19, 2010
An act to amend Section 19066.5 of the Revenue and Taxation Code,
relating to taxation.
LEGISLATIVE COUNSEL'S DIGEST
AB 2638, as introduced, Silva. Corporate income taxes: time for
assessments.
California income tax laws generally provide that taxes may be
assessed up to 4 years after the information or return required by
the taxpayer is provided to the Franchise Tax Board, including a
4-year statute of limitations for the assessment of taxes with regard
to information required to be provided to the Franchise Tax Board by
foreign-owned corporations.
This bill would make a nonsubstantive change to this provision.
Vote: majority. Appropriation: no. Fiscal committee: no.
State-mandated local program: no.
THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS:
SECTION 1. Section 19066.5 of the Revenue and Taxation Code is
amended to read:
19066.5. In the case of any information that is
required to be reported to the Franchise Tax Board under
Section 19141.2 or 19141.5, the time for assessment of any tax
imposed by Part 10 (commencing with Section 17001), Part 11
(commencing with Section 23001), or this part with respect to any
event or period to which that information relates shall not expire
before the date that is four years after the date on which the
Franchise Tax Board is furnished the information required to be
reported under Section 19141.2 or 19141.5, or within the periods
provided in Section 19057, 19058, 19059, 19060, 19065, 24945, 24946,
Section 1033(a)(2)(C) of the Internal Revenue Code, or Section 1033
(a)(2)(D) of the Internal Revenue Code, whichever period expires
later.
