Section 19314 Of Article 1. Claim For Refund From California Revenue And Taxation Code >> Division 2. >> Part 10.2. >> Chapter 6. >> Article 1.
19314
. (a) Notwithstanding any statute of limitations otherwise
provided for in this part, any overpayment due a taxpayer for any
year, shall be allowed as an offset in computing any deficiency in
tax, for the same or any other year, if the overpayment results from
any of the following:
(1) A transfer of items of income or deductions or both to or from
another year for the same taxpayer.
(2) A transfer of items of income or deductions or both for the
same year for a related taxpayer described in Section 19110.
(3) A transfer of items of income or deductions, or both, to or
from another taxpayer for the same or different years if the items of
income or deductions are transferred between affiliated taxpayers
whose tax is determined under Chapter 17 (commencing with Section
25101) of Part 11.
(b) The offset provided under subdivision (a) shall not be allowed
after the expiration of seven years from the due date of the return
or returns on which the overpayment is determined.
(c) No refund shall be allowed under subdivision (a) unless before
the period set forth in Section 19306 a claim therefor is filed by
the taxpayer or unless before the expiration of that period the
Franchise Tax Board has allowed a credit or made a refund.