ARTICLE 3. Nontaxable Exchanges
Article 3 added by Stats. 1955, Ch. 938.
§§ 24941–24955 · 22 sections
- § 24941 Section 1031 of the Internal Revenue Code, relating to exchange of property held for productive use or investment, shall apply, except as otherwise provided.
- § 24941.5 (a) The amendments made by Section 13303(a) and (b) of the Tax Cuts and Jobs Act (Public Law 115-97) to Section 1031 of the Internal Revenue Code, relating to…
- § 24942 (a) No gain or loss shall be recognized to a corporation on the receipt of money or other property in exchange for stock (including treasury stock) of that…
- § 24943 If property (as a result of its destruction in whole or in part, theft, seizure, or requisition or condemnation or threat or imminence thereof) is compulsorily…
- § 24944 If property (as a result of its destruction in whole or in part, theft, seizure, or requisition or condemnation or threat or imminence thereof) is compulsorily…
- § 24945 If a taxpayer has made the election provided in Section 24944(a), then— (a) The statutory period for the assessment of any deficiency, for any taxable year in…
- § 24946 If the election provided in Section 24944(a) is made by the taxpayer and such other property or such stock was purchased before the beginning of the last…
- § 24947 (a) Section 1033(b) of the Internal Revenue Code, relating to basis of property acquired through involuntary conversion, shall apply, except as otherwise…
- § 24948 For purposes of this part, if property lying within an irrigation project is sold or otherwise disposed of in order to conform to the acreage limitation…
- § 24949 For purposes of this part, if livestock are destroyed by or on account of disease, or are sold or exchanged because of disease, such destruction or such sale…
- § 24949.1 (a) For purposes of this part, the sale or exchange of livestock (other than poultry) held by a taxpayer for draft, breeding, or dairy purposes in excess of…
- § 24949.2 (a) For purposes of Sections 24943 through 24945, if real property (not including stock in trade or other property held primarily for sale) held for productive…
- § 24949.3 For purposes of Sections 24943 through 24946, if, because of drought, flood, other weather-related conditions, or soil contamination or other environmental…
- § 24949.5 (a) For purposes of Sections 24943 through 24946, Section 1033(h) of the Internal Revenue Code, relating to special rules for property damaged by federally…
- § 24950 Section 1035 of the Internal Revenue Code, relating to certain exchanges of insurance policies, shall apply, except as otherwise provided.
- § 24950.5 The amendments made by Section 844 of the Pension Protection Act of 2006 (Public Law 109-280) to Section 1035 of the Internal Revenue Code shall not apply.
- § 24951 Section 1036 of the Internal Revenue Code, relating to stock for stock of same corporation, shall apply, except as otherwise provided.
- § 24952 (a) If— (1) A sale of real property gives rise to indebtedness to the seller which is secured by the real property sold, and (2) The seller of such property…
- § 24953 (a) If gain or loss from the exchange of property in this state of a taxpayer is not recognized under this part because of Section 1031 of the Internal Revenue…
- § 24954 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…
- § 24954.1 Section 1042(g) of the Internal Revenue Code, relating to application of section to sales of stock in agricultural refiners and processors to eligible farm…
- § 24955 (a) No gain shall be recognized with respect to a sale of an assisted housing development to a tenant association, nonprofit organization, profit-motivated…