California Revenue and Taxation Code 17132.4 – (a) For taxable years beginning on or after January 1, 2005, …
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(a) For taxable years beginning on or after January 1, 2005, gross income does not include the death benefits received by an eligible individual.
(b) For purposes of this section:
Terms Used In California Revenue and Taxation Code 17132.4
- 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
- Spouse: includes "registered domestic partner" as required by §. See California Revenue and Taxation Code 12.2
(1) “Death benefit” means the entire amount of the death benefit payment made pursuant to Chapter 3.5 (commencing with Section 850) of Division 4 of the Military and Veterans Code.
(2) “Eligible individual” means the surviving spouse of, or a beneficiary designated by, any member of the California National Guard, State Guard, or Naval Militia who dies or is killed in the performance of duty, as provided in § 850 of the Military and Veterans Code.
(Amended by Stats. 2020, Ch. 97, Sec. 46. (AB 2193) Effective January 1, 2021.)