California Code of Regulations
Title 18 - Public Revenues
Division 2.5 - State Controller
Chapter 1 - Inheritance Tax
Article 5 - Specific Exemptions
Section 13801.3 - Independent Gift and Power of Appointment to Same Person
Current through Register 2024 Notice Reg. No. 12, March 22, 2024
(a) Transfers on or After June 25, 1935. Should any person on or after June 25, 1935 (the effective date of the Inheritance Tax Act of 1935), receive both a power of appointment subject to the Inheritance Tax Law (see Revenue and Taxation Code Section 13694) over particular property and an outright bequest or devise of other property from the same transferor, the specific exemption allowable is governed by the following:
(b) Incomplete Inter Vivos Transfer Between July 27, 1917, and June 25, 1935, Plus Power of Appointment on or After June 25, 1935. Should any person receive property pursuant to an incomplete inter vivos transfer (see Section 13304.2), made on or after July 27, 1917 (the effective date of the Inheritance Tax Act of 1917) but prior to June 25, 1935, and on or after the latter date receive from the same transferor a power of appointment subject to the Inheritance Tax Law over other property, the exemption applicable is governed by subsection (a) of this regulation.
(c) Complete Inter Vivos Transfer Between July 27, 1917, and June 25, 1935, Plus Power of Appointment on or After June 25, 1935. Should any person receive property pursuant to a complete inter vivos transfer (see Section 13304.1), made on or after July 27, 1917, but prior to June 25, 1935, and on or after the latter date receive from the same transferor a power of appointment subject to the Inheritance Tax Law over other property, the specific exemption in force at the time of the second transfer being different from that in force at the time of the first:
NOTE: As to the computation of tax where the same person is given a power of appointment together with an outright gift of other property, see Section 13408.1.
NOTE: Reference: Section 13801, Revenue and Taxation Code.