AB 1475 Summary

• Expands the definition of "state tax liability" for earnings withholding orders to include unpaid liabilities under the Personal Income Tax Law, Corporation Tax Law, and specified franchise and income tax provisions that are due and payable.

• Imposes a penalty for erroneous claims for refund or credit under state law, conforming to federal Internal Revenue Code Section 6676, effective for claims filed on or after July 1, 2012.

• Expands the Financial Institution Record Match System to include delinquent tax debtors owing amounts to the State Board of Equalization and Employment Development Department, with those agencies required to reimburse the Franchise Tax Board for implementation and administration costs.

• Repeals Part 18 of the Revenue and Taxation Code relating to the Multistate Tax Compact and declares that the doctrine of election applies to tax computations under the income and franchise tax laws.

• Appropriates $1,000 from the General Fund to the Franchise Tax Board for administrative costs and takes effect immediately as a budget-related bill.