California Code of Regulations
Title 18 - Public Revenues
Division 2.5 - State Controller
Chapter 2 - Gift Tax
Article 1 - Definitions
Section 15103.10 - Tax-Exempt Securities
Universal Citation: 18 CA Code of Regs 15103.10
Current through Register 2024 Notice Reg. No. 12, March 22, 2024
Inasmuch as the gift tax is a tax upon the privilege of transferring property by gift, and not upon the subject of the gift, tax-exempt federal, state, or municipal bonds or other evidences of indebtedness are subject to the Gift Tax Law.
Note: Reference: Section 15103, Revenue and Taxation Code.
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