San Mateo: BOE-62-R
San Mateo County: BOE-62-R
- All Counties
- San Mateo
- BOE-62-R
San Mateo: BOE-62-R REV.01 (5-20) for 2021
Reassessment Exclusion for Transfer of Corporation Stock from Parent to Child
San Mateo County
= Compliance with State of California Web Accessibility Standards
BOE-62-R:
REASSESSMENT EXCLUSION FOR TRANSFER OF CORPORATION STOCK FROM PARENT TO CHILD
GENERAL INFORMATION
Whenever there is a change in control pursuant to section 64(c) of the Revenue and Taxation Code (R&TC) or a change in ownership pursuant to R&TC section 64(d) of a legal entity, and the legal entity owned an interest in California real property as o of that date, the person or legal entity acquiring ownership control or the legal entity that has undergone a change in ownership must file BOE-100-B, Statement of Change in Control and Ownership of Legal Entities (statement), with the Board of Equalization (BOE) within 90 days of the change in control or ownership (R&TC sections 480.1 and 480.2).
Change in Control or Change in Ownership of Legal Entities
Change in Control—R&TC section 64(c)—A change in control occurs when any person or legal entity obtains more than 50 percent of the ownership interest in a legal entity; control may be obtained directly or indirectly. If a legal entity has undergone a change in control, all interests in real property located in California and held by the acquired legal entity (and legal entity(ies) under its ownership control holding California real property) as of the date of the change in control is subject to reassessment.
For purposes of determining whether a legal entity has undergone a change in control, the acquisition of ownership interest is considered. In the case of corporations, an ownership interest is represented by voting stock.
Change in Ownership—R&TC section 64(d)—A change in ownership occurs when cumulatively more than 50 percent of the original co-owners’ interests in the legal entity are transferred; original co-owner status is created when a transfer of property is excluded from reassessment under R&TC section 62(a)(2) in a prior transaction. If a legal entity has undergone a change in ownership, then only the interest in real property that was previously excluded from reassessment under R&TC section 62(a)(2) is subject to reassessment as of the date of the change in ownership. If, however, a legal entity has also undergone a change in control under R&TC section 64(c) and there has been a transfer of cumulatively more than 50 percent of the original co-owners’ interests, then all interests in real property located in California and owned by the legal entity (and legal entity(ies) under its ownership control) as of the date of the change in control is subject to reassessment.
Principal Residence Exclusion for Transfer of Corporation Stock from Parent to Child
Effective October 9, 2019, R&TC section 62(r) excludes from reassessment any parent to child transfer of stock in a qualified corporation that owns qualified property, provided the transfer is due to the death of a parent.
A “qualified corporation” is a corporation that meets all of the following conditions:
- Was created between March 1, 1975 and November 6, 1986, inclusive.
- The corporation owns qualified property, as defined below.
- The only stockholders in the corporation have been the parent(s) and their child(ren).
The qualified corporation must have been owned by any combination of parents and children since its incorporation. This exclusion will not apply to a corporation that has had any other persons or family members as stockholders or to a corporation that was solely owned by parents until their death.
“Qualified property” means a parcel of land that meets both of the following conditions:
- Contains the principal place of residence of the parents prior to their death and that has been the continuous place of residenceof a child of those parents since the creation of the qualified corporation.
- Has an adjusted base year value that, as of the date immediately prior to the date of death of the last surviving parent, does notexceed one million dollars ($1,000,000).
The qualified corporation must have owned the principal residence since its incorporation. This exclusion does not apply to a principal residence purchased by a corporation after its incorporation.
This exclusion applies to a transfer of stock in a qualified corporation due to the death of a parent that occurs on or after October 9, 2019 and results in a change in control or change in ownership of a qualified corporation that owns the principal residence of the parent(s) and their child(ren). This exclusion does not apply to any other real property owned by the qualified corporation or to any other type of legal entity.
Important Additional Taxpayer Information Provided by San Mateo County
Please Download PDF form, fill it, print and mail to address listed on top.
Acrobat Reader is required to view PDF documents. Download Acrobat Reader.
Other Available Forms
For san_mateo County
- BOE-19-B: CLAIM FOR TRANSFER OF BASE YEAR VALUE TO REPLACEMENT PRIMARY RESIDENCE FOR PERSONS AT LEAST AGE 55 YEARS
- BOE-19-C: CERTIFICATION OF VALUE BY ASSESSOR FOR BASE YEAR VALUE TRANSFER
- BOE-19-D: CLAIM FOR TRANSFER OF BASE YEAR VALUE TO REPLACEMENT PRIMARY RESIDENCE FOR SEVERELY DISABLED PERSONS
- BOE-19-DC: CERTIFICATE OF DISABILITY
- BOE-19-G: CLAIM FOR REASSESSMENT EXCLUSION FORTRANSFER BETWEEN GRANDPARENT AND GRANDCHILD OCCURRING ON OR AFTER FEBRUARY 16, 2021
- BOE-19-P: CLAIM FOR REASSESSMENT EXCLUSION FORTRANSFER BETWEEN PARENT AND CHILD OCCURRING ON OR AFTER FEBRUARY 16, 2021
- BOE-19-V: CLAIM FOR TRANSFER OF BASE YEAR VALUE TO REPLACEMENT PRIMARY RESIDENCE FOR VICTIMS OF WILDFIRE OR OTHER NATURAL DISASTER
- BOE-58-AH: Claim For Reassessment Exclusion For Transfer Between Parent And Child
- BOE-58-G: Claim For Reassessment Exclusion For Transfer From Grandparent To Grandchild
- BOE-58-H: Affidavit Of Cotenant Residency
- BOE-60-AH: Claim Of Person(S) At Least 55 Years Of Age For Transfer Of Base Year Value To Replacement Dwelling (Intracounty And Intercounty, When Applicable)
- BOE-60-NR: Notice Of Rescission Of Claim To Transfer Base Year Value To Replacement Dwelling
- BOE-62: Disabled Persons Claim For Transfer Of Base Year Value To Replacement Dwelling (Intracounty And Intercounty, When Applicable)
- BOE-62-A: Certificate Of Disability
- BOE-62-LRDP: Claim For Reassessment Reversal For Local Registered Domestic Partners
- BOE-63: Disabled Persons Claim For Exclusion Of New Construction For Occupied Dwelling
- BOE-63-A: Claim For Disabled Accessibility Construction Exclusion From Assessment For ADA Compliance
- BOE-64: Claim For Seismic Safety Construction Exclusion From Assessment
- BOE-64-RWC: Initial Purchaser Claim For Rain Water Capture System New Construction Exclusion
- BOE-64-SES: Initial Purchaser Claim For Solar Energy System New Construction Exclusion
- BOE-65-CP: Claim For Transfer Of Base Year Value From Qualified Contaminated Property To Replacement Property
- BOE-65-P: Claim For Intracounty Transfer Of Base Year Value To Replacement Property For Property Damaged Or Destroyed In A Governor-Declared Disaster
- BOE-65-PT: Claim For Intercounty Transfer Of Base Year Value To Replacement Property From Principal Residence Damaged Or Destroyed In A Governor-Declared Disaster
- BOE-68: Claim For Base Year Value Transfer-Acquisition By Public Entity
- BOE-231-AH: Welfare Exemption Section 231 Change In Eligibility Or Termination Notice
- BOE-236: Exemption Of Leased Property Used Exclusively For Low-Income Housing
- BOE-236-A: Supplemental Affidavit For Boe-236 Housing — Lower-Income Households Eligibility Based On Family Household Income (Yearly Filing)
- BOE-260-B: Claim For Exemption From Property Taxes Of Aircraft Of Historical Significance
- BOE-261: Claim For Veterans' Exemption
- BOE-261-D: Servicemembers Civil Relief Act Declaration
- BOE-261-G: Claim For Disabled Veterans' Property Tax Exemption
- BOE-261-GNT: Disabled Veterans' Exemption Change Of Eligibility Report
- BOE-262-AH: Church Exemption Property Used Solely For Religious Worship
- BOE-263: Lessors' Exemption Claim
- BOE-263-A: Qualified Lessors' Exemption Claim
- BOE-263-B: Lessees' Exemption Claim
- BOE-263-C: Church Lessors' Exemption Claim
- BOE-264-AH: College Exemption Claim
- BOE-265: Cemetery Exemption Claim
- BOE-265-NT: Cemetery Exemption Change In Eligibility Or Termination Notice
- BOE-266: Claim For Homeowners' Property Tax Exemption
- BOE-266-E: Ownership Statement Cooperative Housing Corporation
- BOE-267: Claim For Welfare Exemption (First Filing)
- BOE-267-F: Welfare Or Veterans' Organization Exemption Assessor's Finding On Qualification Of Property Use
- BOE-267-H: Welfare Exemption Supplemental Affidavit, Housing – Elderly Or Handicapped Families
- BOE-267-H-A: Elderly Or Handicapped Families Family Household Income Reporting Worksheet
- BOE-267-L: Welfare Exemption Supplemental Affidavit, Housing — Lower Income Households
- BOE-267-L1: Welfare Exemption Supplemental Affidavit, Low-Income Housing Property Of Limited Partnership
- BOE-267-L2: Welfare Exemption Supplemental Affidavit, Housing — Lower Income Households — Tenant Data
- BOE-267-L3: Welfare Exemption Supplemental Affidavit, Households Exceeding Low-Income Limits —"Over-Income" Tenant Data (140 percent Ami)
- BOE-267-L-A: Lower Income Households Family Household Income Reporting Worksheet
- BOE-267-O: Welfare Exemption Supplemental Affidavit, Organizations And Persons Using Claimant'S Real Property
- BOE-267-R: Welfare Exemption Supplemental Affidavit, Rehabilitation — Living Quarters
- BOE-267-S: Religious Exemption
- BOE-267-SNT: Religious Exemption Change in Eligibility or Termination Notice
- BOE-268-A: Public School Exemption
- BOE-268-B: Free Public Library Or Free Museum Claim
- BOE-269-AH: Claim For Veterans' Organization Exemption
- BOE-269-FIR: Veterans' Organization Exemption Assessor's Field Inspection Report
- BOE-270-AH: Exhibition Exemption Claim From Property Taxes
- BOE-441-D: Request For Information
- BOE-502-A: Preliminary Change Of Ownership Report
- BOE-502-AH: Change Of Ownership Statement
- BOE-502-D: Change In Ownership Statement Death Of Real Property Owner
- BOE-502-P: Possessory Interests Annual Usage Report
- BOE-560-A: Aggregate Production Report (Includes Sand, Gravel, Stone, Limestone, Clay And Similar Products)
- BOE-566-D: Oil And Dissolved Gas Production Report
- BOE-566-J: Oil, Gas, And Geothermal Personal Property Statement
- BOE-566-K: Oil And Gas Operating Expense Data
- BOE-570-FO1: Supplementary Schedule To The Business Property Statement - Aircraft Cost Report
- BOE-570-FO2: Supplementary Schedule To The Business Property Statement - Aircraft Value Computation
- BOE-571-F2: Registered And Show Horses Other Than Racehorses
- BOE-571-J: Annual Racehorse Tax Return
- BOE-571-S: Business Property Statement, Short Form
- BOE-571-W: Wind Generation Property Statement
- BOE-576-E: Affidavit For 4 Percent Assessment Of Certain Vessels
- BOE-901-V: Application For Deduction Of Vehicles' License Fees From Property Tax
- CAA-FC01: Change Of Mailing Address
- CAA-FC02: Homeowners' Exemption Termination Notice
Select "Form's Details" to view form's details for a given county
There are other 79 available forms for san_mateo County
San Mateo: BOE-62-R - REV.01 (5-20) for 2021
Reassessment Exclusion for Transfer of Corporation Stock from Parent to Child
BOE-62-R:
REASSESSMENT EXCLUSION FOR TRANSFER OF CORPORATION STOCK FROM PARENT TO CHILD
GENERAL INFORMATION
Whenever there is a change in control pursuant to section 64(c) of the Revenue and Taxation Code (R&TC) or a change in ownership pursuant to R&TC section 64(d) of a legal entity, and the legal entity owned an interest in California real property as o of that date, the person or legal entity acquiring ownership control or the legal entity that has undergone a change in ownership must file BOE-100-B, Statement of Change in Control and Ownership of Legal Entities (statement), with the Board of Equalization (BOE) within 90 days of the change in control or ownership (R&TC sections 480.1 and 480.2).
Change in Control or Change in Ownership of Legal Entities
Change in Control—R&TC section 64(c)—A change in control occurs when any person or legal entity obtains more than 50 percent of the ownership interest in a legal entity; control may be obtained directly or indirectly. If a legal entity has undergone a change in control, all interests in real property located in California and held by the acquired legal entity (and legal entity(ies) under its ownership control holding California real property) as of the date of the change in control is subject to reassessment.
For purposes of determining whether a legal entity has undergone a change in control, the acquisition of ownership interest is considered. In the case of corporations, an ownership interest is represented by voting stock.
Change in Ownership—R&TC section 64(d)—A change in ownership occurs when cumulatively more than 50 percent of the original co-owners’ interests in the legal entity are transferred; original co-owner status is created when a transfer of property is excluded from reassessment under R&TC section 62(a)(2) in a prior transaction. If a legal entity has undergone a change in ownership, then only the interest in real property that was previously excluded from reassessment under R&TC section 62(a)(2) is subject to reassessment as of the date of the change in ownership. If, however, a legal entity has also undergone a change in control under R&TC section 64(c) and there has been a transfer of cumulatively more than 50 percent of the original co-owners’ interests, then all interests in real property located in California and owned by the legal entity (and legal entity(ies) under its ownership control) as of the date of the change in control is subject to reassessment.
Principal Residence Exclusion for Transfer of Corporation Stock from Parent to Child
Effective October 9, 2019, R&TC section 62(r) excludes from reassessment any parent to child transfer of stock in a qualified corporation that owns qualified property, provided the transfer is due to the death of a parent.
A “qualified corporation” is a corporation that meets all of the following conditions:
- Was created between March 1, 1975 and November 6, 1986, inclusive.
- The corporation owns qualified property, as defined below.
- The only stockholders in the corporation have been the parent(s) and their child(ren).
The qualified corporation must have been owned by any combination of parents and children since its incorporation. This exclusion will not apply to a corporation that has had any other persons or family members as stockholders or to a corporation that was solely owned by parents until their death.
“Qualified property” means a parcel of land that meets both of the following conditions:
- Contains the principal place of residence of the parents prior to their death and that has been the continuous place of residenceof a child of those parents since the creation of the qualified corporation.
- Has an adjusted base year value that, as of the date immediately prior to the date of death of the last surviving parent, does notexceed one million dollars ($1,000,000).
The qualified corporation must have owned the principal residence since its incorporation. This exclusion does not apply to a principal residence purchased by a corporation after its incorporation.
This exclusion applies to a transfer of stock in a qualified corporation due to the death of a parent that occurs on or after October 9, 2019 and results in a change in control or change in ownership of a qualified corporation that owns the principal residence of the parent(s) and their child(ren). This exclusion does not apply to any other real property owned by the qualified corporation or to any other type of legal entity.
