California Revenue and Taxation Code ARTICLE 3 - Nontaxable Exchanges

• Section 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.(Amended by...
• Section 24941.5.
  Section 1031(i) of the Internal Revenue Code, relating to special rules for mutual ditch, reservoir, or irrigation company stock, shall not apply.(Added by Stats. 2010,...
• Section 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)...
• Section 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...
• Section 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...
• Section 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...
• Section 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...
• Section 24947.
  (a) Section 1033(b) of the Internal Revenue Code, relating to basis of property acquired through involuntary conversion, shall apply, except as otherwise provided.(b) Section 1033(b)(1) of the...
• Section 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...
• Section 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...
• Section 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...
• Section 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...
• Section 24949.3.
  For purposes of Sections 24943 through 24946, if, because of drought, flood, other weather-related conditions, or soil contamination or other environmental contamination, it is not...
• Section 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 declared disasters,...
• Section 24950.
  Section 1035 of the Internal Revenue Code, relating to certain exchanges of insurance policies, shall apply, except as otherwise provided.(Amended by Stats. 1993, Ch. 877,...
• Section 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...
• Section 24951.
  Section 1036 of the Internal Revenue Code, relating to stock for stock of same corporation, shall apply, except as otherwise provided.(Amended by Stats. 1993, Ch....
• Section 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...
• Section 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...
• Section 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...
• Section 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 cooperatives,...
• Section 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 organization or individual,...
• Section 24956.
  (a) Section 1044 of the Internal Revenue Code, relating to rollover of publicly traded securities gain into specialized small business investment companies, shall apply, except as...

Last modified: October 22, 2018