DIVISION 2. OTHER TAXES 6001-60709›PART 11. CORPORATION TAX LAW 23001-25141›CHAPTER 7. Net Income 24341-24449›ARTICLE 1. Deductions 24341-24383

§ 24357.3

California Revenue and Taxation Code · 2018-11 edition · updated 2026-10-04 · California

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.

(Added by Stats. 1971, 1st Ex. Sess., Ch. 1.)

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California Revenue and Taxation Code

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