BlackletterCalifornia law

Revenue and Taxation Code § 24991

ARTICLE 4.5. Capital Gains and Losses

Current as of September 28, 2026Rev. & Tax. Code, § 24991Official source ↗

Amended by Stats. 2003, Ch. 185, Sec. 40. Effective January 1, 2004.

Section 1275(a)(3) of the Internal Revenue Code, relating to the definition of tax-exempt obligation, does not apply but instead the term “tax-exempt obligation” means an obligation the interest on which is exempt from tax under this part.