CA AB1984

Conforms California tax law to federal Internal Revenue Code Section 6164 by allowing corporations to request extensions for payment of taxes in years affected by net operating loss carrybacks.

Adopts federal Section 6411 provisions to allow taxpayers to file applications for tentative carryback adjustments and obtain tentative refunds within 180 days (rather than 90 days federally) after filing a net operating loss return.

Extends the statute of limitations for assessing deficiencies and claiming refunds related to net operating loss carrybacks to match the period applicable to the loss year rather than the carryback year.

Modifies interest calculation rules so that overpayments resulting from net operating loss carrybacks are treated as occurring on the filing date of the loss year, not the carryback year.

Allows the Franchise Tax Board to assess excess amounts that were applied, credited, or refunded under the tentative carryback adjustment provisions if those amounts exceed the actual tax overpayment.