Cal. Rev. & Tax. Code § 17855

Current through the 2023 Legislative Session.

Section 17855 - "Unrealized receivables"

The term "unrealized receivables," as defined by Section 751 (c) of the Internal Revenue Code, shall not include any of the following:

(a) Stock in certain foreign corporations, as described in Section 1248 of the Internal Revenue Code.

(b) Oil, gas, or geothermal property, described in Section 1254 of the Internal Revenue Code.

Ca. Rev. and Tax. Code § 17855

Repealed and added by Stats. 1983, Ch. 488, Sec. 61. Effective July 28, 1983.