California Revenue and Taxation Code 19392 – If judgment is rendered against the Franchise Tax Board, the amount …
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If judgment is rendered against the Franchise Tax Board, the amount thereof shall first be credited against any taxes and interest due from the taxpayer and the remainder refunded to the taxpayer or his or her trust or estate, or in the case of a corporation, its successor through reorganization, merger, or consolidation, or its stockholders upon dissolution, by the Treasurer on warrants drawn by the Controller.
(Amended by Stats. 1997, Ch. 605, Sec. 37. Effective January 1, 1998.)
Terms Used In California Revenue and Taxation Code 19392
- board: means the California Department of Tax and Fee Administration. See California Revenue and Taxation Code 20
- Controller: means the State Controller. See California Revenue and Taxation Code 21
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.