Cal. RTC § 66
This is the official text of Cal. RTC § 66, part of California’s Revenue and Taxation Code — governs state and local taxation, including income and property tax.
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Official statutory text
Change in ownership does not include any of the following:
(a) The creation, vesting, transfer, distribution, or termination of a participant’s or beneficiary’s interest in an employee benefit plan.
(b) Any contribution of real property to an employee benefit plan.
(c) Any acquisition by an employee benefit plan of the stock of the employer corporation pursuant to which the employee benefit plan obtains direct or indirect ownership or control of more than 50 percent of the voting stock of the employer corporation.
As used in this section, the terms “employer,” “employee benefit plan,” “participant,” and “beneficiary” shall be defined as they are defined in the Employee Retirement Income Security Act of 1974.
(a) The creation, vesting, transfer, distribution, or termination of a participant’s or beneficiary’s interest in an employee benefit plan.
(b) Any contribution of real property to an employee benefit plan.
(c) Any acquisition by an employee benefit plan of the stock of the employer corporation pursuant to which the employee benefit plan obtains direct or indirect ownership or control of more than 50 percent of the voting stock of the employer corporation.
As used in this section, the terms “employer,” “employee benefit plan,” “participant,” and “beneficiary” shall be defined as they are defined in the Employee Retirement Income Security Act of 1974.
Status: in_force · Read it on the official government site
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