California Government Code 54435 – The bonds and interest or income from the bonds are exempt from …
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The bonds and interest or income from the bonds are exempt from taxation in this State, except from gift, inheritance, and estate taxes.
(Added by Stats. 1949, Ch. 81.)
Terms Used In California Government Code 54435
- 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