Rev. & Tax. Code, § 12631 · Article 2. Interest and Penalties
Rev. & Tax. Code, § 12631
Text — As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
(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.
Notes and commentary — not statutory text
History
Repealed (in Sec. 96) and added by Stats. 2013, Ch. 33, Sec. 97.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.
Source of truth
- Edition
- As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
- Official file
- https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=RTC§ionNum=12631.
- Text hash
- sha256 6d9ea856ff4ba5051a6c00220c0eb4cbdf11da6bd9c1ad4bc9ec720b351d10e2
- Composed by
- compose_ca.py 2026-10-22: the Legislative Counsel's CAML content files read by a tokenizer (caml_readers.reader_a); an independent xml.etree reading (caml_readers.reader_b) agrees on every section
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