California Revenue and Taxation Code

§ 38503

RTC § 38503 Effective Jan 1, 2023Div. 2 · Part 18.5 · Ch. 6 · Art. 1

Statute text

(a)Subject to the limitations in subdivisions (b) and (c), the department may, by notice of levy, served personally, by first-class mail, or by electronic transmission or other electronic technology, require all persons having in their possession, or under their control, any credits or other personal property belonging to a timber owner liable for any amount under this part to withhold from those credits or other personal property the amount of any tax, interest, or penalties due from that timber owner, or the amount of any liability incurred by the timber owner under this part, and to transmit the amount withheld to the department at those times as it may designate.

(b)The person served shall continue to withhold pursuant to the notice of levy until the amount specified in the notice, including accrued interest, has been paid in full, until the notice is withdrawn, or until one year from the date the notice is received, whichever occurs first.

(c)The amount required to be withheld is the lesser of the following:

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Legislative history

Amended by Stats. 2022, Ch. 474, Sec. 47. (SB 1496) Effective January 1, 2023.