California Revenue and Taxation Code 19518 – (a) The trustee of a trust described in Section 401(a) of the …
(a) The trustee of a trust described in Section 401(a) of the Internal Revenue Code which is exempt from tax under Section 17631 to which contributions have been paid under a plan on behalf of any owner-employee (as defined in Section 401(c)(3) of the Internal Revenue Code), and each insurance company or other person which is the issuer of a contract purchased by such a trust, or purchased under a plan described in Section 403(a) of the Internal Revenue Code, contributions for which have been paid on behalf of any owner-employee, shall file the returns (in the form and at the times), keep the records, make the identification of contracts and funds (and accounts within the funds), and supply the information, as the Franchise Tax Board shall by forms or regulations prescribe.
(b) Every individual on whose behalf contributions have been paid as an owner-employee (as defined in Section 401(c)(3) of the Internal Revenue Code)-
Terms Used In California Revenue and Taxation Code 19518
- board: means the California Department of Tax and Fee Administration. See California Revenue and Taxation Code 20
- Contract: A legal written agreement that becomes binding when signed.
- Person: includes any person, firm, partnership, general partner of a partnership, limited liability company, registered limited liability partnership, foreign limited liability partnership, association, corporation, company, syndicate, estate, trust, business trust, or organization of any kind. See California Revenue and Taxation Code 19
- Trustee: A person or institution holding and administering property in trust.
(1) To a trust described in Section 401(a) of the Internal Revenue Code which is exempt from tax under Section 17631, or
(2) To an insurance company or other person under a plan described in Section 403(a) of the Internal Revenue Code,
shall furnish the trustee, insurance company, or other person, as the case may be, the information at the times and in the form and manner as the Franchise Tax Board shall prescribe by forms or regulations.
(Added by Stats. 1993, Ch. 31, Sec. 26. Effective June 16, 1993. Operative January 1, 1994, by Sec. 83 of Ch. 31.)