Cal. Rev. & Tax. Code § 6815
Current through the 2023 Legislative Session.
If at the time a business is discontinued the board holds security pursuant to Section 6701 in the form of cash, government bonds, or insured deposits in banks or savings and loan institutions, such 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.
Ca. Rev. and Tax. Code § 6815