Rev. & Tax. Code, § 6812 · Article 7. Payment on Termination of Business and Successor’s Liability
Rev. & Tax. Code, § 6812
Text — As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
(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:
(A) The date the board receives a written request from the purchaser for a certificate.
(B) The date of the sale of the business or stock of goods.
(C) The date the former owner’s records are made available for audit.
(c) Failure of the board to mail the notice referred to in subdivision (b) will release the purchaser from any further obligation to withhold from the purchase price as above provided. The last date upon which the obligation of the successor may be enforced shall be not later than three years after the date the board is notified of the purchase of the business or stock of goods.
Notes and commentary — not statutory text
History
Amended by Stats. 1991, Ch. 236, Sec. 7. Effective July 29, 1991.
Source of truth
- Edition
- As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
- Official file
- https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=RTC§ionNum=6812.
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- sha256 7ab9434380e0a42a93586b551c0bb257169169c48dea3ff7a9405bcd5ac265eb
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- compose_ca.py 2026-10-22: the Legislative Counsel's CAML content files read by a tokenizer (caml_readers.reader_a); an independent xml.etree reading (caml_readers.reader_b) agrees on every section
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Revenue and Taxation Code
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