SECTIONS 24251 - California Statutes

REVENUE AND TAXATION CODE

SECTION 24251

24251. The tax on any taxpayer for a period beginning in one
calendar year (called "first calendar year") and ending in the
following calendar year (called "second calendar year") where the law
applicable to the computation of taxes for calendar year taxpayers
for the second calendar year is different from the law applicable to
computation of taxes for calendar year taxpayers for the first
calendar year, shall, except as otherwise provided, be the sum of:
(a) The same proportion of a tax for the entire period, determined
under the law and rates applicable to the first calendar year which
the portion of the period falling within the first year is of the
entire period; and
(b) The same proportion of a tax for the entire period, determined
under the law and rates applicable to the second calendar year which
the portion of the period falling within the second calendar year is
of the entire period.
Any tax that has been paid under the law applicable to the first
calendar year if in excess of the tax imposed by this section shall
be refunded or credited to the taxpayer as provided in Chapter 22.
Any tax in addition to that paid under the law applicable to the
first calendar year made necessary by this article shall be
immediately due and payable upon notice and demand from the Franchise
Tax Board.