A receiver of all the property of an individual who is a resident of this State must make a return of, and pay the tax upon, the income from such property if the adjusted gross income of an individual exceeds the limits set forth in Section 18505 of the Revenue and Taxation Code. If the individual is a resident of this State the entire income from his property regardless of where located, must be reported by the receiver. If the individual is a nonresident, only income from property having a business or taxable situs in this State should be reported. The return should be made on Form 540, except that if the individual is a nonresident of the State Form 540NR should be employed.

A receiver in charge of the business of a partnership shall render a return on Form 565. A receiver of the rents and profits appointed to hold and operate a mortgaged parcel of real estate but not in control of all the property or business of the mortgagor, and a receiver in partition proceedings, are not required to render returns of income. Likewise, a receiver of a corporation is not required to make a return of income but should make a return for the corporation under the Bank and Corporation Tax law if the corporation is taxable under that law.