California Statutes
§ 24942. — 24942. (Amended by Stats. 2002, Ch. 35, Sec. 58.)
California·Code RTC Revenue and Taxation Code - RTC·Div. 2. DIVISION 2. OTHER TAXES·Part 11. PART 11. CORPORATION TAX LAW·Ch. 15. CHAPTER 15. Gain or Loss on Disposition of Property·Art. 3. ARTICLE 3. Nontaxable Exchanges
(a)No gain or loss shall be recognized to a corporation on the receipt of money or other property in exchange for stock (including treasury stock) of that corporation. No gain or loss shall be recognized by a corporation with respect to any lapse or acquisition of an option, or with respect to a securities futures contract (as defined in Section 1234B of the Internal Revenue Code, to buy or sell its stock (including treasury stock).
(b)For basis of property acquired by a
corporation in certain exchanges for its stock, see Sections 24552 to 24554, inclusive.
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California § 24942. (24942. (Amended by Stats. 2002, Ch. 35, Sec. 58.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Amended by Stats. 2002, Ch. 35, Sec. 58. Effective May 8, 2002.