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California Law (Last Updated: March 4, 2014) |
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Revenue and Taxation Code - RTC |
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Division 2. OTHER TAXES |
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Part 10.2. ADMINISTRATION OF FRANCHISE AND INCOME TAX LAWS |
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Chapter 7. Administration of Tax |
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ARTICLE 1. Powers and Duties of Franchise Tax Board |
Section 19503.
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(a) The Franchise Tax Board shall prescribe all rules and regulations necessary for the enforcement of Part 10 (commencing with Section 17001), Part 10.7 (commencing with Section 21001), Part 11 (commencing with Section 23001), and this part and may prescribe the extent to which any ruling (including any judicial decision or any administrative determination other than by regulation) shall be applied without retroactive effect.
(b) (1) Except as otherwise provided in this subdivision, no regulation relating to Part 10 (commencing with Section 17001), Part 10.7 (commencing with Section 21001), Part 11 (commencing with Section 23001), or this part shall apply to any taxable year ending before the date on which any notice substantially describing the expected contents of any regulation is issued to the public.
(2) Paragraph (1) shall not apply to either of the following:
(A) Regulations issued within 24 months of the date of the enactment of the statutory provision to which the regulation relates.
(B) Regulations issued within 24 months of the date that temporary or final federal regulations with respect to statutory provisions to which California conforms are filed with the Federal Register.
(3) The Franchise Tax Board may provide that any regulation may take effect or apply retroactively to prevent abuse.
(4) The Franchise Tax Board may provide that any regulation may apply retroactively to correct a procedural defect in the issuance of any prior regulation.
(5) The limitation of paragraph (1) shall not apply to any regulation relating to the Franchise Tax Board's policies, practices, or procedures.
(6) The limitation of paragraph (1) may be superseded by a legislative grant of authority to the Franchise Tax Board to prescribe the effective date with respect to any regulation.
(7) The Franchise Tax Board may provide for any taxpayer to elect to apply any regulation before the dates specified in paragraph (1).
(c) The amendments made by the act adding this subdivision are operative with respect to regulations which relate to California statutory provisions enacted on or after January 1, 1998.