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Business Taxes Law Guide—Revision 2024
Timber Yield Tax Law
Revenue and Taxation Code
Division 2. Other Taxes
Part 18.5. Timber Yield Tax
Chapter 6. Collection of Taxes
Article 7. Payment on Termination of Business and Successor's Liability*
Section 38564
38564. Notice of successor liability. The obligation of the successor shall be enforced by serving a notice of successor liability on the person. The notice shall be served in the manner prescribed for service of a notice of a deficiency determination, not later than three years after the date the board is notified of the purchase of the business. The successor may petition for reconsideration in the manner provided in Article 5 (commencing with Section 38441) of Chapter 5. The notice shall become final and the amount due and payable in the manner provided in that article except that no additional penalty shall apply if not paid when due and payable. The provisions of this chapter with respect to the collection of any amount required to be paid under this part shall apply when the notice becomes final.
History—Stats. 1991, Ch. 236 (SB 180), in effect July 29, 1992, added ", not later than three years after the date the board is notified of the purchase of the business." after "determination" in the second sentence.
* Article 7 added by Stats. 1985, Ch. 186, effective January 1, 1986.