§ 13952.8. Annuity Contract.
18 CA ADC § 13952.8Barclays Official California Code of Regulations
18 CCR § 13952.8
§ 13952.8. Annuity Contract.
The value of an annuity contract issued by a company regularly engaged in the selling of contracts of that character is, ordinarily, the cost of the contract.
It is to be noted that an annuity contract is not a life insurance policy. Consequently, the exemption mentioned in Section 13723 is not allowable on any payment made under any such contract.
Note: Reference: Section 13952, Revenue and Taxation Code.
This database is current through 5/10/24 Register 2024, No. 19.
Cal. Admin. Code tit. 18, § 13952.8, 18 CA ADC § 13952.8
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