California Revenue and Taxation Code

§ 46452

RTC § 46452 Effective Aug 1, 1991Div. 2 · Part 24 · Ch. 4 · Art. 6

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 shall become 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 is required to be paid as a condition of issuing the certificate.

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

…

Legislative history

Added by Stats. 1991, Ch. 300, Sec. 6. Effective August 1, 1991.