California Revenue and Taxation Code

§ 17085

RTC § 17085 Effective Oct 1, 2025Div. 2 · Part 10 · Ch. 3 · Art. 2

Statute text

Section 72 of the Internal Revenue Code, relating to annuities, certain proceeds of endowment and life insurance contracts, is modified as follows:

(a)The amendments and transitional rules made by Public Law 99-514 shall be applicable to this part for the same transactions and the same years as they are applicable for federal purposes, except that the repeal of Section 72(d) of the Internal Revenue Code, relating to repeal of special rule for employees’ annuities, shall apply only to the following:

(1)Any individual whose annuity starting date is after December 31, 1986.

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Legislative history

Amended by Stats. 2025, Ch. 231, Sec. 12. (SB 711) Effective October 1, 2025.