Section 19093.
Cal. Revenue and Taxation Code - RTC § 19093.
in effect(a)
If the individual who is in physical possession of cash in excess of ten thousand dollars ($10,000) does not claim that cash in any of the capacities specified in paragraphs (1) and (2), then for purposes of Sections 19081 and 19082, it shall be presumed that the cash represents gross income of a single individual for the taxable year in which the possession occurs, and that the collection of tax will be jeopardized by delay:
(1)
The cash is
not claimed as his or hers.
(2)
The cash is not claimed as belonging to another person whose identity the Franchise Tax Board can readily ascertain and who acknowledges ownership of that cash.
(b)
In the case of any assessment resulting from the application of subdivision (a), all of the following apply:
(1)
The entire amount of the cash shall be treated as taxable income for the taxable year in which the possession occurs.
(2)
That income shall be treated as taxable at the maximum rate under Section 17041.
(3)
Except as provided in subdivision (c), the possessor of the cash shall be treated (solely with respect to that cash) as the taxpayer for purposes of Chapter 4 (commencing with
Section 19001) and Chapter 5 (commencing with Section 19201).
(c)
If, after an assessment resulting from the application of subdivision (a), that assessment is abated and replaced by an assessment against the owner of the cash, that later assessment shall be treated for purposes of all laws relating to lien, levy, and collection as relating back to the date of the original assessment.
(d)
For purposes of this section, the following definitions apply:
(1)
“Cash” includes any cash equivalent.
(2)
“Cash equivalent” means any of the following:
(A)
Foreign currency.
(B)
Any bearer obligation.
(C)
Any medium of exchange to which both of the following apply:
(i)
It is of a type which has been frequently used in illegal activities.
(ii)
It is specified as a cash equivalent for purposes of this part in regulations prescribed by the Franchise Tax Board.
(3)
Any cash equivalent shall be taken into account in the following manner:
(A)
In the case of a bearer obligation, at its face amount.
(B)
In the case of any other cash equivalent, at its fair market value.
References
referencesCal. Revenue and Taxation Code - RTC § 19081.
referencesCal. Revenue and Taxation Code - RTC § 17041.
referencesCal. Revenue and Taxation Code - RTC § 19001.
referencesCal. Revenue and Taxation Code - RTC § 19201.
Source: CA Legislative Counsel Bulk DataURL: https://downloads.leginfo.legislature.ca.gov/pubinfo_2025.zipFetched: 6/27/2026