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date('t');
// result : the lastest day of the current day
 
$ts = time();
date('t', $ts);
// result : the same result
// PS : $ts is a unix timestamp so you can put any timestamp,
// it will give you the latest day for the month of this timestamp
 
date('Y-m-t');
// result : full date of the last day of the current month. Eg. 2011-07-31
 
date('t',strtotime('last month'));
// You can use strtotime also with a valid date string