Sales and use taxes: underpayments: overpayments.

Existing sales and use tax laws impose taxes on retailers measured by the gross receipts from the sale of tangible personal property sold at retail in this state, or on the storage, use, or other consumption in this state of tangible personal property purchased from a retailer for storage, use, or other consumption in this state, and provides various exemptions from those taxes. Existing law requires that any amount collected or paid in excess of what is due under that law is required to be credited by the State Board of Equalization against any other amounts due and payable from the person from whom the excess amount was collected or by whom it was paid, and the balance refunded to the person, as provided. This bill, notwithstanding any other law, would require the board, on and after January 1, 2018, and before January 1, 2023, to credit and setoff underpayment of taxes barred by the statute of limitations, provided a specified condition is met, in one quarter against an overpayment of taxes in another quarter within the same calendar year, if both the set off and overpayment occurred during the same period put at issue by the taxpayer's claim to refund. The bill, under the same conditions, would also require the board, on and after January 1, 2018, and before January 1, 2023, to credit and set off overpayment of taxes barred by the statute of limitations in one quarter against an underpayment of taxes in another quarter within the same calendar year, if both the setoff and overpayment occurred during the same period put at issue by the taxpayer's claim for refund. On or before January 1, 2021, the bill would require the board to submit a specified report to the Legislature relating to these requirements.