{"code":"RTC","codeName":"Revenue and Taxation Code","section":"38565","citation":"Rev. & Tax. Code, § 38565","status":"in-force","lawOn":"2026-09-28","headings":[{"name":"DIVISION 2. OTHER TAXES [6001. - 61050.]","url":"https://blackletter.si/revenue-and-taxation-code/division-2"},{"name":"PART 18.5. TIMBER YIELD TAX [38101. - 38908.]","url":"https://blackletter.si/revenue-and-taxation-code/division-2/part-18.5"},{"name":"CHAPTER 6. Collection of Taxes [38501. - 38578.]","url":"https://blackletter.si/revenue-and-taxation-code/division-2/part-18.5/chapter-6"},{"name":"ARTICLE 7. Payment on Termination of Business and Successor’s Liability [38561. - 38565.]","url":"https://blackletter.si/revenue-and-taxation-code/division-2/part-18.5/chapter-6/article-7"}],"history":"Added by Stats. 1985, Ch. 186, Sec. 15.","effective":null,"html":"<p>If at the time a business is discontinued the board holds security pursuant to Section <a href=\"/rtc/38501\">38501</a> in the form of cash, government bonds, or insured deposits in banks or savings and loan institutions, this 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.</p>","text":"If at the time a business is discontinued the board holds security pursuant to Section 38501 in the form of cash, government bonds, or insured deposits in banks or savings and loan institutions, this 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.","otherVersions":[],"url":"https://blackletter.si/revenue-and-taxation-code/payment-on-termination-of-business-and-successors-liability-38565","source":"California Legislative Information bulk export (pubinfo)"}