California Revenue and Taxation Code 13301 – Neither the state nor any political subdivision of the state shall …
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Neither the state nor any political subdivision of the state shall impose any gift, inheritance, succession, legacy, income, or estate tax, or any other tax, on gifts or on the estate or inheritance of any person or on or by reason of any transfer occurring by reason of a death.
(Repealed and added June 8, 1982, by initiative Proposition 6. Reenacted, in identical language, by Stats. 1982, Ch. 1535, Sec. 15.)
Terms Used In California Revenue and Taxation Code 13301
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- Legacy: A gift of property made by will.
- Person: includes any person, firm, partnership, general partner of a partnership, limited liability company, registered limited liability partnership, foreign limited liability partnership, association, corporation, company, syndicate, estate, trust, business trust, or organization of any kind. See California Revenue and Taxation Code 19