Laws, Regulations & Annotations

Property Taxes Law Guide – Revision 2014
 

Property Tax Annotations


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L

565.0000 LEGAL ENTITIES

Annotation 565.0020

565.0020 Change in Ownership Filing Requirements. Effective January 1, 2010, Revenue and Taxation Code sections 480.1, 480.2, 482, and 483 were amended to establish a penalty for legal entities that do not file a change in control and ownership statement with the Board of Equalization within 45 days of a change in control or change in ownership pursuant to section 64(c) or (d). If legal entity ownership interests are transferred due to a death but it will not be known within 45 days of the date of death whether a change in control or ownership will occur because the allocation of interests to the beneficiaries is not determined, the change in control and ownership statement should still be filed with as much information as is known to avoid the penalty. The form should then be supplemented once a change in control or ownership determination is made. C 9/10/2010.