The provisions of Section 1248 of the Internal Revenue Code, relating to gain from certain sales or exchanges of stock in certain foreign corporations, shall not apply to transactions occurring after August 20, 1990, in taxable years beginning on or after January 1, 1990.
Cal. Rev. & Tax. Code § 24990.7
Capital Gains and Losses
Amended by Stats. 2000, Ch. 862, Sec. 212
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.