California Statutes
§ 24354. — 24354. (Added by Stats. 1959, Ch. 1127.)
California § 24354.
JurisdictionCalifornia
Code RTCRevenue and Taxation Code - RTC
Div. 2.DIVISION 2. OTHER TAXES
Part 11.PART 11. CORPORATION TAX LAW
Ch. 7.CHAPTER 7. Net Income
Art. 1.ARTICLE 1. Deductions
This text of California § 24354. (24354. (Added by Stats. 1959, Ch. 1127.)) is published on Counsel Stack Legal Research, covering California primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
Cal. Revenue and Taxation Code - RTC Code § 24354. (2026).
Text
In the case of property held by one person for life with remainder to another person, the deduction shall be computed as if the life tenant were the absolute owner of the property and shall be allowed to the life tenant. In the case of property held in trust, the allowable deduction shall be apportioned between the income beneficiaries and the trustee in accordance with the pertinent provisions of the instrument creating the trust, or, in the absence of such provisions on the basis of the trust income allocable to each.
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Legislative History
Added by Stats. 1959, Ch. 1127.
Nearby Sections
2
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California § 24354., Counsel Stack Legal Research, https://law.counselstack.com/statute/ca/RTC/24354..