Laws, Regulations & Annotations

Business Taxes Law Guide – Revision 2011
 

Sales And Use Tax Law

CHAPTER 6. COLLECTION OF TAX

Article 7. Payment on Termination of Business and Successor's Liability

Section 6815

6815. Effect of security for tax when business discontinued. If at the time a business is discontinued the board holds security pursuant to Section 6701 in the form of cash, government bonds, or insured deposits in banks or savings and loan institutions, such security when applied to the account of the taxpayer shall be deemed to be a payment on account of any liability of the taxpayer to the board on the date the business is discontinued.

History.—Added by Stats. 1966, p. 188, in effect April 18, 1966, operative July 1, 1966.