(a) Pursuant to Section 18642 of the Revenue and Taxation Code, when requested by the Franchise Tax Board, all owners and transferors of an interest in real property or a mobilehome shall file an information return with the Franchise Tax Board. The information required on such returns shall include the following:
(1) The name(s) of the owner(s) or transferor(s).
(2) The current mailing address(es) of the owner(s) or transferor(s).
(3) The social security number(s) of an individual owner(s) or transferor(s).
(4) The federal employer identification number(s) of a nonindividual owner(s) or transferor(s).
(5) If a corporation(s) filing California income or franchise tax return(s), the corporation number(s) used on such return(s).
(6) The legal entity of the owner(s) or transferor(s). (Example: individual, partnership, joint venture, trust, estate, corporation.)
(7) If the owner(s) or transferor(s) is a resident of or is a legal entity created or authorized under the laws of a foreign country, the address of the owner(s) or transferor(s) in the foreign country(ies).
(8) A description of the property transfer transaction (for example, gift, sale, installment sale, foreclosure, charitable contribution, like-kind exchange, sale with leaseback).
(9) If the owner(s) or transferor(s) held or hold only nominal title or title as an agent to the property, the name(s) of the real party(ies) in interest or principal(s) and his/her/its/their current address(es).
(10) If more than one parcel of real property was transferred in the same transaction, the parcel number and situs address of each parcel transferred.
(11) With respect to each parcel of real property or mobilehome involved in the transaction, the sale or purchase price, and the date of acquisition or disposition of the property.
(b) Pursuant to Section 18642 of the Revenue and Taxation Code, this regulation does not apply to property granted a homeowner's property tax exemption or to property which is not assessed by a California County Assessor.
Credits
Note: Authority cited: Section 19253, Revenue and Taxation Code. Reference: Section 18802.3, Revenue and Taxation Code.
1. New section filed 6-18-86 as an emergency; effective upon filing (Register 86, No. 25). A Certificate of Compliance must be transmitted to OAL within 120 days or emergency language will be repealed on 10-16-86.
2. Certificate of Compliance including amendment transmitted to OAL 10-10-86 and filed 11-7-86 (Register 86, No. 45).
3. Change without regulatory effect renumbering and amending former section 18802.3 to section 18642 filed 11-23-98 pursuant to section 100, title 1, California Code of Regulations (Register 98, No. 48).
This database is current through 5/10/24 Register 2024, No. 19.
Cal. Admin. Code tit. 18, § 18642, 18 CA ADC § 18642
