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The tax imposed by § 14.0302 shall be paid by any person who makes, signs, or issues any document or instrument subject to the tax, or for whose use or benefit the same is made, signed or issued.
(Ord. 1394, passed - -1967)
The United States or any agency or instrumentality thereof, any State or territory, or political subdivision thereof, or the District of Columbia shall not be liable for any tax imposed pursuant to this Chapter with respect to any deed, instrument or writing to which it is a party, but the tax may be collected by assessment from any other party liable therefor.
(Ord. 1394, passed - -1967)
The tax imposed pursuant to this Chapter shall not apply to the making, delivering or filing of conveyances to make effective any plan of reorganization or adjustment:
(a) Confirmed under the Federal Bankruptcy Act, as amended;
(b) Approved in an equity receivership proceeding in a court involving a corporation, as defined in Subdivision (3) of 11 U.S.C. § 506, as amended;
(c) Approved in an equity receivership proceeding in a court involving a corporation, as defined in Subdivision (3) of 11 U.S.C. § 506, as amended; or
(d) Whereby a mere change in identity, form or place of organization is effected.
Subdivisions (a) to (d), inclusive, of this Section shall only apply if the making, delivery or filing of instruments of transfer or conveyances occurs within five years from the date of such confirmation, approval or change.
(Ord. 1394, passed - -1967)
The tax imposed pursuant to this Chapter shall not apply to the making or delivery of conveyances to make effective any order of the Securities and Exchange Commission, as defined in Subdivision (a) of § 1083 of the Internal Revenue Code of 1954; but only if:
(a) The order of the Securities and Exchange Commission in obedience to which such conveyance is made recites that such conveyance is necessary or appropriate to effectuate the provisions of 15 U.S.C. § 79k, relating to the Public Utility Holding Company Act of 1935;
(b) Such order specifies the property which is ordered to be conveyed;
(c) Such conveyance is made in obedience to such order.
(Ord. 1394, passed - -1967)
(a) In the case of any realty held by a partnership, no tax shall be imposed pursuant to this Chapter by reason of any transfer of an interest in the partnership or otherwise, if:
(1) Such partnership (or other partnership) is considered a continuing partnership within the meaning of § 708 of the Internal Revenue Code of 1954; and
(2) Such continuing partnership continues to hold the realty concerned.
(b) If there is a termination of any partnership within the meaning of § 708 of the Internal Revenue Code of 1954, for purposes of this Chapter, such partnership shall be treated as having executed all instruments whereby there was conveyed, for fair market value (exclusive of the value of any lien or encumbrance remaining thereon), all realty held by such partnership at the time of such termination.
(c) Not more than one tax shall be imposed pursuant to this Chapter by reason of a termination described in Subdivision (b), and any transfer pursuant thereto, with respect to the realty held by such partnership at the time of such termination.
(Ord. 1394, passed - -1967)
If the legislative body of any city in the County imposes a tax pursuant to Revenue and Taxation Code Part 6.7 of Division 2 equal to one-half the amount specified in § 14.0302 of this Chapter, a credit shall be granted against the taxes due under this Chapter in the amount of the city’s tax.
(Ord. 1394, passed - -1967)
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