California Law (Last Updated: March 4, 2014) |
Revenue and Taxation Code - RTC |
Division 2. OTHER TAXES |
Part 7. INSURANCE TAXATION |
Chapter 5. Payment and Collection |
ARTICLE 2. Interest and Penalties |
Section 12633.
Latest version.
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When a deficiency assessment is made on the basis of a proposal submitted by the commissioner pursuant to Section 12423 a penalty of 10 percent of the amount of the deficiency assessment shall be added thereto.
(Added by Stats. 1961, Ch. 740.)