California Revenue and Taxation Code

§ 19173

RTC § 19173 Effective Oct 7, 2005Div. 2 · Part 10.2 · Ch. 4 · Art. 7

Statute text

(a)A penalty shall be imposed under this part for failure to maintain lists of advisees with respect to reportable transactions and shall be determined in accordance with Section 6708 of the Internal Revenue Code, except as otherwise provided.

(b)If a material advisor fails to meet the requirements of subdivision (d) of Section 18648 with respect to a listed transaction, as defined in Section 6707A(c)(2) of the Internal Revenue Code, an additional penalty shall be imposed equal to the greater of:

(1)One hundred thousand dollars ($100,000).

…

Legislative history

Amended by Stats. 2005, Ch. 691, Sec. 47.4. Effective October 7, 2005.