California Revenue and Taxation Code 17744 – Where the taxability of income under this chapter depends on the …
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Where the taxability of income under this chapter depends on the residence of the beneficiary and there are two or more beneficiaries of the trust, the income taxable under Section 17742 shall be apportioned according to the number and interest of beneficiaries resident in this state pursuant to rules and regulations prescribed by the Franchise Tax Board.
(Repealed and added by Stats. 1983, Ch. 488, Sec. 59. Effective July 28, 1983.)
Terms Used In California Revenue and Taxation Code 17744
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- board: means the California Department of Tax and Fee Administration. See California Revenue and Taxation Code 20