Laws, Regulations & Annotations

L

565.0000 LEGAL ENTITIES

Annotation 565.0100

565.0100 Statutory Conversion. Statutory conversions of corporations into limited liability companies do not result in reassessment of the properties directly or indirectly owned by the converting corporations if the respective statutes under which the conversion is accomplished provide that a statutory conversion does not result in a transfer of real property, and the converted entity is the same entity as the converting entity for all purposes. Therefore, a statutory conversion alone in such situations cannot trigger either a change in control as defined in Revenue and Taxation Code section 64(c)(1), or the application of the original co-owner rule under section 64(d). As a result, there is no need to file form BOE 100-B upon completion of the conversions. C 2/18/2016