Cal. Rev. & Tax. Code § 17755
Current through the 2023 Legislative Session.
For taxable years beginning on or after January 1, 2014, Section 664(c)(2) of the Internal Revenue Code, relating to excise tax, shall not apply and, in lieu thereof, the unrelated business taxable income, as defined in Section 23732, of every charitable remainder annuity trust or charitable remainder unitrust shall be subject to tax under Section 17651.
Ca. Rev. and Tax. Code § 17755