Taxpayers Now Face Penalties for Failure toNotify BOE of Transfers in Entities That OwnCalifornia Real Property

Allen Matkins
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California law has always required that legal entities that own real property in California file a Statement of Change in Control and Ownership of Legal Entities ("Statement") with the California State Board of Equalization ("BOE") within 45 days of the date that the change in control or change in ownership occurs. These events are important for California property tax purposes since either event will generally cause a reassessment of any California real property owned by such entity.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations. Attorney Advertising.

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