California Code of Regulations
Title 18 - Public Revenues
Division 2.5 - State Controller
Chapter 2 - Gift Tax
Article 1 - Definitions
Section 15104.7 - Transfer of Corporate Property
Universal Citation: 18 CA Code of Regs 15104.7
Current through Register 2024 Notice Reg. No. 12, March 22, 2024
A transfer of property by a corporation to A not made for an adequate and full consideration in money or money's worth is a gift to the latter from the stockholders or members of the corporation in proportion to their respective interests, except where A himself is a stockholder or member of the corporation and the transfer is a distribution to him as such from earnings or as a result of a liquidation.
NOTE: Reference: Section 15104, Revenue and Taxation Code.
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