California Statutes
§ 24963. — 24963. (Added by Stats. 1955, Ch. 938.)
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. 4. ARTICLE 4. Special Rules for Basis
In the case of property acquired before March 1, 1913, if the basis otherwise determined under this part, adjusted (for the period before March 1, 1913) as provided in Section 24916, is less than the fair market value of the property as of March 1, 1913, then the basis for determining gain shall be such fair market value. In determining the fair market value of stock in a corporation as of March 1, 1913, due regard shall be given to the fair market value of the assets of the corporation as of that date.
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California § 24963. (24963. (Added by Stats. 1955, Ch. 938.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Added by Stats. 1955, Ch. 938.