BlackletterCalifornia law

Revenue and Taxation Code § 24954

ARTICLE 3. Nontaxable Exchanges

Current as of September 28, 2026Rev. & Tax. Code, § 24954Official source ↗

Amended by Stats. 2000, Ch. 862, Sec. 208. Effective January 1, 2001.

For taxable years beginning on or after January 1, 1995, Section 1042 of the Internal Revenue Code, relating to sales of stock to employee stock ownership plans or certain cooperatives, shall apply, except as otherwise provided.