California Government Code 53192.5 – All income received by the investor from the fund is exempt from …
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All income received by the investor from the fund is exempt from taxation in this state, except gift, inheritance, and estate taxes.
(Added by Stats. 1986, Ch. 1512, Sec. 1.)
Terms Used In California Government Code 53192.5
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- State: means the State of California, unless applied to the different parts of the United States. See California Government Code 18