California Revenue and Taxation Code 7273 – In addition to the amounts otherwise provided for preparatory costs, …
In addition to the amounts otherwise provided for preparatory costs, the board shall charge each district an amount for the board’s services in administering the transactions and use tax determined by the board, with the concurrence of the Department of Finance, as follows:
(a) Beginning with the 2006-07 fiscal year, the amount charged all districts shall be based on the methodology described in Alternative 4C of the November 2004 report by the State Board of Equalization entitled “Response to the Supplemental Report of the 2004 Budget Act.” The amount charged each district shall be based upon the district’s proportional share of the revenue after weighting the revenue to equalize the differences in district tax rates.
Terms Used In California Revenue and Taxation Code 7273
- board: means the California Department of Tax and Fee Administration. See California Revenue and Taxation Code 20
- District: as used in this part , means any city, county, city and county, or other governmental entity authorized, to impose transaction and use taxes pursuant to this part. See California Revenue and Taxation Code 7252
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- transactions: as used in this part have the same meaning respectively as the words "sale" or "sales" and the word "transactor" as used in this part has the same meaning as "seller" as "sale" or "sales" and "seller" are used in Part 1 (commencing with Section 6001) of this division. See California Revenue and Taxation Code 7253
(1) The amount charged each district may be adjusted in the current fiscal year to reflect the difference between the board’s budgeted costs and any significant revised estimate of costs. Any adjustment shall be subject to budgetary controls included in the Budget Act. Prior to any adjustment, the Department of Finance shall notify the Chairperson of the Joint Legislative Budget Committee not later than 30 days prior to the effective date of the adjustment.
(2) The amount charged each district shall be adjusted to reflect the difference between the board’s recovered costs and the actual costs incurred by the board during the fiscal year two years prior.
(b) The board shall, by June 1 of each year, notify districts of the amount that it anticipates will be assessed for the next fiscal year. The districts shall be notified of the actual amounts that will be assessed within 30 days after enactment of the Budget Act for that fiscal year.
(c) The amount charged a district that becomes operative during the fiscal year shall be estimated for that fiscal year based on weighted revenue.
(d) The amounts determined by subdivision (a) shall be deducted in equal amounts from the quarterly allocation of taxes collected by the board for a given district.
(e) Notwithstanding any other provision of this section, for the 2008-09 fiscal year to the 2014-15 fiscal year, inclusive, the amounts determined by subdivision (a) shall not include any revenues collected pursuant to Sections 6051.7 and 6201.7.
(Amended by Stats. 2009, 4th Ex. Sess., Ch. 12, Sec. 31. Effective July 28, 2009.)