In making an initial assessment the board may offset an overpayment for one calendar year against an underpayment for another calendar year, against penalties, and against any interest on an underpayment.
Cal. Rev. & Tax. Code § 12414
Initial Assessments
Added by Stats. 1961, Ch. 740.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.