California Revenue and Taxation Code

§ 17952.5

RTC § 17952.5 Effective Jan 1, 2011Div. 2 · Part 10 · Ch. 11

Statute text

(a)For purposes of computing “taxable income of a nonresident or part-year resident” under paragraph (1) of subdivision (i) of Section 17041, gross income of a nonresident, as defined in Section 17015, from sources within this state shall not include “qualified retirement income” received on or after January 1, 1996, for any part of the taxable year during which the taxpayer was not a resident of this state.

(b)For purposes of this section, “qualified retirement income” means income from any of the following:

(1)A qualified trust under Section 401(a) of the Internal Revenue Code that is exempt under Section 501(a) of the Internal Revenue Code from taxation.

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Legislative history

Amended by Stats. 2010, Ch. 14, Sec. 35. (SB 401) Effective January 1, 2011.