Cal. Rev. & Tax. Code § 60407

(a) Subject to the limitations in subdivisions (b) and (c), the department may by notice of levy, served personally, by first-class mail, or by electronic transmission or other electronic technology, require all persons having in their possession, or under their control, any payments, credits other than payments, or other personal property belonging to a person liable for any amount under this part to withhold from those credits or other personal property the amount of any tax, interest, or penalties due from that person, or the amount of any liability incurred by the person under this part, and to transmit the amount withheld to the department at those times as it may designate. The notice of levy shall have the same effect as a levy pursuant to a writ of execution except for the continuing effect of the levy, as provided in subdivision (b).
(b) The person served shall continue to withhold pursuant to the notice of levy until the amount specified in the notice, including accrued interest, has been paid in full, until the notice is withdrawn, or until one year from the date the notice is received, whichever occurs first.
(c) The amount required to be withheld is the lesser of the following:
1. (1) The amount due stated on the notice.
2. (2) The sum of both of the following:
  1. (A) The amount of the payments, credits other than payments, or personal property described above and under the person’s possession or control when the notice of levy is served on the person.
  2. (B) The amount of each payment that becomes due following service of the notice of levy on the person and prior to the expiration of the levy.
(d) For the purposes of this section, “payment” does not include earnings as that term is defined in subdivision (a) of Section 706.011 of the Code of Civil Procedure or funds in a deposit account as defined in paragraph (29) of subdivision (a) of Section 9102 of the Commercial Code. “Payment” does include any of the following:
1. (1) Any payment due for services of an independent contractor, dividends, rents, royalties, residuals, patent rights, or mineral or other natural rights.
2. (2) Any payment or credit due or becoming due periodically as the result of an enforceable obligation to the person liable for the tax.
3. (3) Any other payment or credit due or becoming due the person liable as the result of a written or oral contract for services or sales whether denominated as wages, salary, commission, bonus, or otherwise.
(e) In the case of a financial institution, to be effective, the notice shall state the amount due from the taxpayer and shall be delivered, mailed, or served by electronic transmission or other electronic technology to the branch or office of the financial institution where the credits or other property is held, unless another branch or office is designated by the financial institution to receive the notice.