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City of San Mateo Municipal Code.

3.48.020 PAYMENT.

The tax imposed by Section 3.48.010 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, and such persons shall be jointly and severally liable for payment thereof; provided, that with respect to a transfer made upon the termination of a partnership within the meaning of Section 708 of Title 26 of the United States Code, as amended, for the purposes of this chapter, it shall be assumed that a document was executed by the partnership whereby there was transferred for market value all realty held by such partnership at the time of such termination; providing further, that with respect to the realty held by such partnership, not more than one tax shall be imposed pursuant to this chapter by reason of such termination and any documents making transfer pursuant thereto.

All revenues received by the City from the levy of the tax imposed by this chapter shall be deposited and paid into the general fund.