{"code":"RTC","codeName":"Revenue and Taxation Code","section":"24357.3","citation":"Rev. & Tax. Code, § 24357.3","status":"in-force","lawOn":"2026-09-28","headings":[{"name":"DIVISION 2. OTHER TAXES [6001. - 61050.]","url":"https://blackletter.si/revenue-and-taxation-code/division-2"},{"name":"PART 11. CORPORATION TAX LAW [23001. - 25141.]","url":"https://blackletter.si/revenue-and-taxation-code/division-2/part-11"},{"name":"CHAPTER 7. Net Income [24341. - 24449.]","url":"https://blackletter.si/revenue-and-taxation-code/division-2/part-11/chapter-7"},{"name":"ARTICLE 1. Deductions [24341. - 24383.]","url":"https://blackletter.si/revenue-and-taxation-code/division-2/part-11/chapter-7/article-1"}],"history":"Added by Stats. 1971, 1st Ex. Sess., Ch. 1.","effective":null,"html":"<p>For purposes of Section <a href=\"/rtc/24357\">24357</a>, in determining the value of a remainder interest in real property, depreciation (computed on the straight line method) and depletion of such property shall be taken into account, and such value shall be discounted at a rate of 6 percent per annum, except that the Franchise Tax Board may prescribe a different rate.</p>","text":"For purposes of Section 24357, in determining the value of a remainder interest in real property, depreciation (computed on the straight line method) and depletion of such property shall be taken into account, and such value shall be discounted at a rate of 6 percent per annum, except that the Franchise Tax Board may prescribe a different rate.","otherVersions":[],"url":"https://blackletter.si/revenue-and-taxation-code/deductions-24357-3","source":"California Legislative Information bulk export (pubinfo)"}