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§ 13851. Nature, Scope and Amount.

18 CA ADC § 13851Barclays Official California Code of Regulations

Barclays California Code of Regulations
Title 18. Public Revenues
Division 2.5. State Controller (Refs & Annos)
Chapter 1. Inheritance Tax (Refs & Annos)
Article 5.2. Intangibles Exemption
18 CCR § 13851
§ 13851. Nature, Scope and Amount.
Currentness
A transfer of intangible personal property subject to the Inheritance Tax Law by a nonresident transferor (see Section 13303.2(d)), is exempt from the Inheritance Tax Law in the amount of the property transferred if the transferor at the time of his death was a resident of a foreign state or country which then imposed a legacy, succession, or death tax in respect to the intangibles of its own residents, but either:
(a) Did not impose such a tax in respect to intangible personal property of residents of this State; or
(b) Had a reciprocity provision in its law exempting from its tax the intangibles of nonresidents of other jurisdictions whose laws, in turn, contain a similar exemption.
It will be noted that intangible personal property belonging to a nonresident transferor residing in the United States is not subject to the Inheritance Tax Law.
Note: Reference:Section 13851, Revenue and Taxation Code.
This database is current through 5/10/24 Register 2024, No. 19.
Cal. Admin. Code tit. 18, § 13851, 18 CA ADC § 13851
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