Income taxes: withholding: real property sales.
This bill did not become law and its session has ended, so it can no longer move. It would have to be reintroduced.
- Stage
- Session ended
- Started in
- Senate
- Sponsor
- 1
- Latest action
- Feb 1, 2018
What it does
Existing law requires the transferee of a California real property interest, in specified circumstances, to withhold for income tax purposes 313% of the sales price of the property when the property is acquired from either an individual, or a partnership or corporation without a permanent place of business, as specified. Existing law also allows, by election of the transferor, alternative withholding amounts that are not less than the amount of gain required to be recognized under income tax laws multiplied by the corporation tax rate, bank and financial corporate tax rate, the highest personal income tax rate, or the current "S" corporation tax rate plus the highest personal income tax…
Where it stands
This bill did not become law and its session has ended, so it can no longer move. It would have to be reintroduced.
Introduced (Current step)
Committee (Needs attention)
Floor (Not started)
Law (Not started)
What moved
Who is involved
Sponsors
The lawmakers who put their names on it, lead sponsors first.
- Stone
In the news
Reporting that may mention this subject. Possible matches are labeled.
Loading coverage…
Where it goes next
While a bill can still move, the questions are about people and money in California.