California Revenue and Taxation Code

§ 6812

RTC § 6812 Effective Jul 29, 1991Div. 2 · Part 1 · Ch. 6 · Art. 7

Statute text

(a)If the purchaser of a business or stock of goods fails to withhold from the purchase price as required, he or she becomes personally liable for the payment of the amount required to be withheld by him or her to the extent of the purchase price, valued in money.

(b)(1) Within 60 days after the latest of the dates specified in paragraph (2), the board shall either issue the certificate or mail notice, to the purchaser at his or her address as it appears on the records of the board, of the amount that must be paid as a condition of issuing the certificate.

(2)For purposes of paragraph (1), the latest of the following dates shall apply:

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Legislative history

Amended by Stats. 1991, Ch. 236, Sec. 7. Effective July 29, 1991.