§ 15103.2. Property of Nonresident Donors.
18 CA ADC § 15103.2Barclays Official California Code of Regulations
18 CCR § 15103.2
§ 15103.2. Property of Nonresident Donors.
Real property in this State belonging to a nonresident donor is subject to the Gift Tax Law.
Tangible personal property permanently in this State belonging to a nonresident donor is subject to the Gift Tax Law.
Ordinarily, intangible personal property belonging to a nonresident donor is not subject to the Gift Tax Law unless it has acquired a so-called “business situs” (i. e., been actively used in connection with some business) in this State.
Any intangible personal property of a nonresident donor otherwise subject to the Gift Tax Law is not subject thereto if transferred by a donor who at the date of the transfer was a resident of a state or territory of the United States or of a foreign state or country which then imposed a gift tax in respect to the intangibles of its own residents, but either:
Note: As to the intangibles exemption of nonresident donors, see Section 15451 and 15451.1, and Revenue and Taxation Code Section 15451.
Note: Reference: Section 15103, Revenue and Taxation Code.
This database is current through 6/14/24 Register 2024, No. 24.
Cal. Admin. Code tit. 18, § 15103.2, 18 CA ADC § 15103.2
End of Document |