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Earlier editions: 2020-112018-11

DIVISION 2. OTHER TAXES 6001-61050›PART 11. CORPORATION TAX LAW 23001-25141›CHAPTER 15. Gain or Loss on Disposition of Property 24901-24998›ARTICLE 4.5. Capital Gains and Losses 24990-24995

§ 24991

California Revenue and Taxation Code · 2026-10 edition · updated 2026-10-04 · California

Section 1275(a)(3) of the Internal Revenue Code, relating to the definition of tax-exempt obligation, does not apply but instead the term “tax-exempt obligation” means an obligation the interest on which is exempt from tax under this part.

(Amended by Stats. 2003, Ch. 185, Sec. 40. Effective January 1, 2004.)

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California Revenue and Taxation Code

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