P.R. Laws tit. 21, § 651n
(a) Deficiency.— As used in §§ 651–652y of this title with respect to the license tax levied thereby “deficiency” means the amount by which the tax which is authorized to be levied and collected exceeds:
(1) The sum of:
(A) The amount declared as tax by the person in his tax return, if said person filed a return and declared therein an amount as tax, plus
(B) the amounts previously assessed or collected without assessment, as deficiency, less
(2) the amount of the reductions made, as defined in subsection (b) of this section.
(b) Reduction.— Means that part of a reduction, credit, refund or other reimbursement, which may be made on the basis that the tax authorized under §§ 651–652y of this title is less than the excess of the amount specified in subsection (a)(1) over the amount of reductions previously made.
History —July 10, 1974, No. 113, Part 1, p. 371, § 15.