GroundRules
RTC § 24963
Where this section sits in the code
- Revenue and Taxation Code - RTC
- DIVISION 2. OTHER TAXES [6001. - 61050.]
- PART 11. CORPORATION TAX LAW [23001. - 25141.]
- CHAPTER 15. Gain or Loss on Disposition of Property [24901. - 24998.]
- ARTICLE 4. Special Rules for Basis [24961. - 24966.2.]
In the case of property acquired before March 1, 1913, if the basis otherwise determined under this part, adjusted (for the period before March 1, 1913) as provided in Section 24916, is less than the fair market value of the property as of March 1, 1913, then the basis for determining gain shall be such fair market value. In determining the fair market value of stock in a corporation as of March 1, 1913, due regard shall be given to the fair market value of the assets of the corporation as of that date.
Collected 2026-09-14T05:56:33Z. Source file · JSON