60471-60474

REVENUE AND TAXATION CODE
SECTION 60471-60474




60471.  If any person liable for any amount under this part sells
out his or her business or stock of goods or quits the business, his
or her successor or assign shall withhold from the purchase price an
amount sufficient to cover that amount until the former owner
produces a receipt from the board showing that it has been paid or a
certificate stating that no amount is due.



60472.  (a) If the purchaser of a business or stock of goods fails
to withhold the purchase price as required, he or she becomes
personally liable for the payment of the amount required to be
withheld by him or her to the extent of the purchase price valued in
money.
   (b) (1) Within 60 days after the latest of the dates specified in
paragraph (2), the board shall either issue the certificate or mail
notice to the purchaser at his or her address as it appears on the
records of the board of the amount that is required to be paid as a
condition of issuing the certificate.
   (2) For purposes of paragraph (1), the latest of the following
dates shall apply:
   (A) The date the board receives a written request from the
purchaser for a certificate.
   (B) The date the former owner's records are made available for
audit.
   (c) Failure of the board to mail the notice referred to in
subdivision (b) shall release the purchaser from any further
obligation to withhold from the purchase price under this article.
The last day upon which the obligation of the successor may be
enforced shall be no later than three years after the date the board
is notified of the purchase of the business or stock of goods.




60473.  The certificate may be issued after the payment of all
amounts due under this part, according to the records of the board as
of the date of the certificate, or after the payment of the amounts
is secured to the satisfaction of the board.




60474.  The obligation of the successor shall be enforced by serving
a notice of successor liability on the person. The notice shall be
served in the manner prescribed for service of a notice of a
deficiency determination, not later than three years after the date
the board is notified of the purchase of the business or stock of
goods. The successor may petition for reconsideration in the manner
provided in Article 5 (commencing with Section 60350) of Chapter 6.
The notice shall become final and the amount due and payable in the
manner provided in that article except that no additional penalty
shall apply if not paid when due and payable. This chapter, with
respect to the collection of any amount required to be paid under
this part, shall apply when the notice becomes final.