California Revenue and Taxation Code

§ 60471

RTC § 60471 Effective Sep 28, 1994Div. 2 · Part 31 · Ch. 7 · Art. 6

Statute text

If any person liable for any amount under this part sells out his or her business or stock of goods or quits the business, his or her successor or assign shall withhold from the purchase price an amount sufficient to cover that amount until the former owner produces a receipt from the board showing that it has been paid or a certificate stating that no amount is due.

Legislative history

Added by Stats. 1994, Ch. 912, Sec. 17. Effective September 28, 1994. Operative July 1, 1995, by Sec. 26 of Ch. 912.