Existing law imposes various taxes, including, but not limited to, taxes on personal and real property, income, the sales of tangible personal property at retail, and the storage, use, or other consumption in this state of tangible personal property purchased from any retailer. Existing law imposes various penalties on certain violations related to these taxes, including, for purposes of income taxes, an additional 5% tax on income tax due for each month or fraction thereof elapsing between the due date of the return and the date on which it is filed, as specified, if the taxpayer fails to make and file a required return.
This bill would state the intent of the Legislature to enact legislation relating to the review and revision of the Revenue and Taxation Code to ensure penalties are commensurate to the violation or violations of that code. The bill would make related findings and declarations.