Cal. Code Regs. tit. 18 § 13952.8
Current through Register 2024 Notice Reg. No. 24, June 14, 2024
The value of an annuity contract issued by a company regularly engaged in the selling of contracts of that character is, ordinarily, the cost of the contract.
It is to be noted that an annuity contract is not a life insurance policy. Consequently, the exemption mentioned in Section 13723 is not allowable on any payment made under any such contract.
NOTE: Reference: Section 13952, Revenue and Taxation Code.
Cal. Code Regs. Tit. 18, § 13952.8