{"data":{"id":"us-ca/rtc-24942","jurisdiction":"us-ca","citation":"RTC § 24942","heading":"","body":"(a) No gain or loss shall be recognized to a corporation on the receipt of money or other property in exchange for stock (including treasury stock) of that corporation. No gain or loss shall be recognized by a corporation with respect to any lapse or acquisition of an option, or with respect to a securities futures contract (as defined in Section 1234B of the Internal Revenue Code, to buy or sell its stock (including treasury stock).\n(b) For basis of property acquired by a corporation in certain exchanges for its stock, see Sections 24552 to 24554, inclusive.","path":["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 3. Nontaxable Exchanges [24941. - 24956.]"],"source_url":"https://downloads.leginfo.legislature.ca.gov/pubinfo_2025.zip","current_through":"2026-09-13","vintage":"","retrieved_at":"2026-09-14T05:56:33Z","sha256":"63237d0af807a8f7da996adaa1fb687c06af6cabfdb33aeb4000dbb597c80700","source_id":"us-ca","stale":false,"prev":"us-ca/rtc-24941.5","next":"us-ca/rtc-24943"},"notice":"GroundRules: Original legal text. Not legal advice."}