5761-5768

REVENUE AND TAXATION CODE
SECTION 5761-5768




5761.  The tax imposed pursuant to this part shall be determined as
of 12:01 a. m. January 1 of the calendar year for which it is imposed
and shall be immediately due and payable to the tax collector of the
county in which the racehorse is domiciled.



5762.  The tax imposed by this part shall become delinquent at 5
p.m. on the 15th day of February of the calendar year for which it is
imposed.


5763.  A delinquent penalty of 6 percent shall attach at 5 p.m. on
the day any tax imposed by this part becomes delinquent. An
additional penalty of 1 percent shall attach to the tax on the first
day of the first calendar month commencing after the tax becomes
delinquent and on the first day of each calendar month thereafter,
until the delinquent tax and penalties have been paid in full.



5764.  If, in the opinion of the tax collector, the amount of tax
required to be paid to the county pursuant to this part, or any
portion thereof, will be jeopardized by delay, the tax collector
shall thereupon make a determination of the tax or the amount of tax
to be collected. The amount so determined shall be immediately due
and payable. Such jeopardy determinations and the amount of tax found
to be due thereunder may be collected by the tax collector by any
legal means, including, but not limited to, the procedures
established pursuant to Chapter 3.3 (commencing with Section 2851),
Chapter 4 (commencing with Section 2901), Chapter 5 (commencing with
Section 3002), and Chapter 6 (commencing with Section 3101) of Part 5
of this division.



5765.  (a) The assessor may perform audits of the books and records
of any owner of racehorses subject to the tax imposed by this part in
the county to determine if the correct information has been reported
and the proper amount of tax has been paid.
   (b) In those cases wherein the board determines that an audit
would have been required under Section 469 if the racehorses were
subject to property taxation, rather than to the provisions of this
part, the assessor shall perform such audits of the books and records
of the owners of racehorses subject to the tax imposed by this part
as the board by rules and regulations may prescribe.




5766.  The tax described in this part may be imposed at any time
within five years after the tax would have otherwise become due and
the penalties shall date from the time described in Section 5763.



5767.  If any person required by Section 5782 to file a report fails
to file it by the time specified, the tax collector shall impose on
the lawful amount of taxes due under this part, a penalty equal to 10
percent of the tax, and the penalties provided by Section 5763. If
any person required to file the report required by Section 5782 files
any false or fraudulent report with an intent to defeat or evade any
tax due under this part, the tax collector shall impose on the
lawful amount of tax due under this part, a penalty equal to 25
percent of the tax, and the penalties provided by Section 5763.



5768.  Upon request of the assessor, an owner of racehorses of a
type subject to the tax imposed by this part shall make available at
his principal place of business, principal location or principal
address in California or at any place mutually agreeable to the
assessor and the owner, a true copy of business records relevant to
the number and type of racehorses located in any county of the state
during any taxable period and the number of days spent in each county
during that period. Records referred to in this section shall be
retained by the owner for a period of five years from the date any
tax to which they relate becomes due.