Laws, Regulations & Annotations

Business Taxes Law Guide – Revision 2013
 

Hazardous Substances Tax Law

CHAPTER 4. COLLECTION OF TAX

Article 4. Seizure and Sale

Section 43434

43434. Disposition of proceeds. If upon the sale the moneys received exceed the amount of all taxes, penalties, and costs due the state from the taxpayer, the board shall return the excess to him or her and obtain his or her receipt. If any person having an interest in or lien upon the property files with the board prior to the sale notice of his or her interest, the board shall withhold any excess pending a determination of the rights of the respective parties to the excess moneys by a court of competent jurisdiction. If for any reason the receipt of the taxpayer is not available, the board shall deposit the excess moneys with the Controller, as trustee for the owner, subject to the order of the taxpayer, his or her heirs, successors, or assigns.

History.—Stats. 1996, Ch. 860, in effect January 1, 1997, substituted "to the excess moneys" for "thereto" after "the respective parties" in the second sentence and substituted "Controller" for "State Treasurer" after "moneys with the" in the last sentence.