California Code of Regulations
Title 18 - Public Revenues
Division 2.5 - State Controller
Chapter 2 - Gift Tax
Article 4 - Annual Exemptions
Section 15401.1 - When to be Taken

Universal Citation: 18 CA Code of Regs 15401.1
Current through Register 2024 Notice Reg. No. 12, March 22, 2024

The annual exemption must be taken or used in the year for which it is allowed. The exemption permitted for the year 1974, for instance, must be taken or used in respect to gifts made during the calendar year 1974. It cannot be taken or used as to gifts made during the calendar year 1975.

NOTE: Reference: Section 15401, Revenue and Taxation Code.

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