Cal. Rev. & Tax. Code § 24357.3

Current through the 2023 Legislative Session.

Section 24357.3 - Determination of value of remainder interest in real property

For purposes of Section 24357, in determining the value of a remainder interest in real property, depreciation (computed on the straight line method) and depletion of such property shall be taken into account, and such value shall be discounted at a rate of 6 percent per annum, except that the Franchise Tax Board may prescribe a different rate.

Ca. Rev. and Tax. Code § 24357.3

Added by Stats. 1971, 1st Ex. Sess., Ch. 1.