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Re: carrying back a note and CA's withholding tax

Posted by Lughead on August 02, 2003 at 10:52 AM

In Reply to: carrying back a note and CA's withholding tax posted by zachary on August 01, 2003 at 2:46 PM

hello

i don't think it matters if you are getting cash or note

as an individual the escrow will collect 3.3% of the sales price if it is not your residence - ask the escrow officer for the number for the FTB - appearantly the folks who collect the tax are open for questions - ask them directly

at least you will have overpaid your taxes and can anticipate a hefty refund next april...

let us know what you find out

good luck
Lughead



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