Form Boe-100-B (S1) - Statement Of Change In Control And Ownership Of Legal Entities Page 3
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10BOE-100-B-INST (S2F) REV. 4 (1-12)
STATE OF CALIFORNIA
BOARD OF EQUALIZATION
Question 3:
Both parts of question 3 must be answered.
3a. Since March 1, 1975, an interest in real property has been transferred to the filing legal entity in a transaction
that was excluded from reassessment pursuant to R&TC section 62(a)(2)**; and
3b. After such transfer, the original co-owners*** have cumulatively transferred in one or more transactions more
than 50 percent of their interests in the filing legal entity.
**Revenue and Taxation Code Section 62, Subdivision (a)(2)
Under this provision, a transfer of real property to a legal entity does not result in a reassessment if the transfer
results in merely a change in the method of holding title and the proportional ownership interests in the real
property are exactly the same before and after the transfer.
***Original Co-owners
After a transfer of real property that qualifies for exclusion from reassessment under R&TC section 62(a)(2),
the person(s) or legal entity(ies) holding ownership interests in the legal entity immediately after the transfer
are considered “original co-owners” for purposes of tracking subsequent transfers of the interests held by
them. When such transfers cumulatively exceed 50 percent, the real property previously excluded from
reassessment under R&TC section 62(a)(2), is deemed to undergo a change in ownership, and is, therefore,
subject to reassessment under R&TC section 64(d).
EXAMPLE:
A transfer of real property from equal co-tenants A, B, and C to XYZ Corporation, where after the transfer A,
B, and C each hold 33 1/3 percent of the voting shares of XYZ Corporation, is deemed to be merely a change
in the method of holding title, and therefore, does not result in a reassessment of the real property transferred.
Hence, question 3a would be answered “yes.”
After the transfer described above, A, B, and C are deemed to be “original co-owners” for purposes of
tracking subsequent transfers by them of their newly obtained interests in XYZ Corporation. If A, B, or C
subsequently transfer more than 50 percent of their interests in one or more transactions, the real property
previously excluded from reassessment under R&TC section 62(a)(2) will be subject to reassessment on the
date of the transaction that caused the 50 percent threshold to be exceeded. Hence, question 3b would be
answered “yes.”
Certification
Complete the certification by signing the statement. Include the title of the person signing and enter the date signed.
Note: An unsigned electronic or faxed statement is not considered complete and you may be subject to penalty.
SCHEDULE A
1. Complete one Schedule A for each legal entity acquired and for every legal entity under its ownership control.
2. Identify only the legal entity(ies) that hold an interest in California real property as of the date of the change in
control.
3. If a combined California Franchise Tax Board income tax return is filed, provide the name(s) of the legal
entity(ies) filing in that unitary group.
Item 1a: Provide the requested information pertaining to the acquired legal entity and any entity under its ownership
control.
Item 1b: Provide the requested information pertaining to the acquiring person or legal entity.
Item 2a: Provide the date ownership control was obtained (for example, date of acquisition).
Item 2b: Provide a description of the transaction.
Item 3:
Provide the name of the person or legal entity and the percentage interest held by each before and after the
date of acquisition in the acquired legal entity.
Note: If the interest in the legal entity is held by a trust, indicate whether the trust is revocable or irrevocable and identify
the beneficiaries of the trust.
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