ARTICLE 6. Payment on Termination of Business [7956. - 7959.]

Cal. Revenue and Taxation Code - RTC 6.

in effect

Cal. Revenue and Taxation Code - RTC § 7956. Section 7956.

Whenever a supplier ceases to engage in business as a supplier within the state by reason of the discontinuance, sale, or transfer of the business, the supplier shall give notice in writing thereof to the board on or before the date of the discontinuance, sale, or transfer.

Cal. Revenue and Taxation Code - RTC § 7957. Section 7957.

The notice shall give the date of discontinuance or, in the event of a sale or transfer of the business, the date thereof and the name and address of the purchaser or transferee.

Cal. Revenue and Taxation Code - RTC § 7958. Section 7958.

All amounts under this part, not yet due and payable under other provisions hereof, become due and payable concurrently with the discontinuance, sale, or transfer. The supplier shall forthwith make a report and pay all of the amounts due and shall surrender the supplier’s license to the board.

Cal. Revenue and Taxation Code - RTC § 7959. Section 7959.

Unless notice is given as provided by Section 7956, the purchaser or transferee becomes liable for all taxes and penalties under this part accrued against the vendor or transferor to the date of the sale or transfer, but only to the extent of the value of the property and business thereby acquired.

Source: CA Legislative Counsel Bulk DataURL: https://downloads.leginfo.legislature.ca.gov/pubinfo_2025.zipFetched: 6/27/2026