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§ 15104.5. Release of Debt.

18 CA ADC § 15104.5Barclays Official California Code of Regulations

Barclays California Code of Regulations
Title 18. Public Revenues
Division 2.5. State Controller (Refs & Annos)
Chapter 2. Gift Tax (Refs & Annos)
Article 1. Definitions
18 CCR § 15104.5
§ 15104.5. Release of Debt.
Currentness
If A owes B a sum of money, and B without an adequate and full consideration in money or money's worth releases A from the obligation to repay it, the release constitutes a gift to A.
Note: Reference: Section 15104, Revenue and Taxation Code.
This database is current through 6/14/24 Register 2024, No. 24.
Cal. Admin. Code tit. 18, § 15104.5, 18 CA ADC § 15104.5
End of Document