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DIVISION 2. OTHER TAXES 6001-60709›PART 18.5. TIMBER YIELD TAX 38101-38908›CHAPTER 6. Collection of Taxes 38501-38577›ARTICLE 7. Payment on Termination of Business and Successor’s Liability 38561-38565

§ 38565

California Revenue and Taxation Code · 2018-11 edition · updated 2026-10-04 · California

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.

(Added by Stats. 1985, Ch. 186, Sec. 15.)

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California Revenue and Taxation Code

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