Laws, Regulations & Annotations

Property Taxes Law Guide – Revision 2013
 

Revenue and Taxation Code

Division 2. Other Taxes

Part 18.5. Timber Yield Tax

Chapter 6. Collection of Taxes

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

Section 38565

38565. Security held by the board at time of business termination. If at the time a business is discontinued the board holds security pursuant to Section 38501 in the form of cash, government bonds, or insured deposits in banks or savings and loan institutions, this 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.

* Article 7 added by Stats. 1985, Ch. 186, effective January 1, 1986.