CA SB1341

Requires Franchise Tax Board to mail notice to charitable corporations that fail to file required registration or periodic reports with Attorney General, giving them 120 days to file all past due and currently due documents or face exemption revocation

Removes requirement that charitable corporations pay minimum tax for years their exemption was disallowed

Allows charitable corporations whose exemption was revoked to reestablish exempt status by filing a new application, paying the filing fee, and submitting any previously unfiled returns or unpaid amounts

Applies to notifications of noncompliance received from the Attorney General before, on, or after the bill's effective date (September 28, 2012)

Exempts minimum franchise tax and related penalties and interest for charitable corporations to encourage compliance with state filing requirements