Taxation: Franchise Tax Board: notices.

The Personal Income Tax Law and Corporation Tax Law impose taxes according to, or measured by, income derived from or attributable to sources within this state and authorizes various credits against the taxes imposed by that law. Those laws are administered by the Franchise Tax Board and require taxpayers subject to the taxes imposed by those laws to submit a return to the Franchise Tax Board. This bill would require the Franchise Tax Board, when it does not receive a timely filed return from specified taxpayers, to send a notice to those taxpayers, within 60 days of the due date of the return, containing specified information, requesting a return, amended return, or an estimate of the taxpayer's taxable income.