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Summer 2013 • Issue 48, page 9
Franchise Tax Board Notice to Receivers
The Franchise Tax
Board of the State of California Released the Following Notice on January
17, 2013:
Revenue and Taxation Code section 19089 provides, in part, that "[e]very
trustee in a case under Title 11 of the United States Code, receiver,
assignee for the benefit of creditors or like fiduciary shall give notice
of qualification as such to the Franchise Tax Board in the manner and at
the time that may be required by regulations of the Franchise Tax Board."
In order to implement this notice requirement, the Franchise Tax Board (FTB)
has recently adopted section 19089 in Title 18 of the California Code of
Regulations, which identifies who is required to give notice of
qualification, the manner in which notice must be provided, the time
requirement for providing the notice, and whether any exemptions to the
notice requirement are appropriate. .... Every trustee in a case under
Title 11 of the United States Code, receiver, assignee for the benefit of
creditors or like fiduciary appointed and/or assigned on or after March
18, 2013 ... shall give notice of qualification as such to the Franchise
Tax Board at the address or fax number listed below:
Bankruptcy Section Manager MS A340
Franchise Tax Board
PO Box 2952
Sacramento Ca 95812-2952
Fax: 916-845-9799 |
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