DIVISION 2. OTHER TAXES 6001-60709›PART 7. INSURANCE TAXATION 12001-13170›CHAPTER 5. Payment and Collection 12601-12691›ARTICLE 2. Interest and Penalties 12631-12637
§ 12631
California Revenue and Taxation Code · 2018-11 edition · updated 2026-10-04 · California
(a) Any insurer that fails to pay any tax, except a tax determined as a deficiency assessment by the board under Article 3 (commencing with Section 12421) of Chapter 4, within the time required, shall pay a penalty of 10 percent of the amount of the tax in addition to the tax, plus interest at the modified adjusted rate per month, or fraction thereof, established pursuant to Section 6591.5, from the due date of the tax until the date of payment.
(b) This section shall become operative on July 1, 2013.
(Repealed (in Sec. 96) and added by Stats. 2013, Ch. 33, Sec. 97. (SB 78) Effective June 27, 2013. Section operative July 1, 2013, by its own provisions.)
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