California § 24964 - Whenever a taxpayer has realized gain or loss upon the receipt after January 1, 1
Full text of California Public Contract Code - PCC § 24964 — Whenever a taxpayer has realized gain or loss upon the receipt after January 1, 1, with citation guidance and answers to common questions.
§ 24964. Whenever a taxpayer has realized gain or loss upon the receipt after January 1, 1
Whenever a taxpayer has realized gain or loss upon the receipt after January 1, 1928, at a time when it was subject to a tax under this part, of all or substantially all of the business or property of a taxpayer over which it exercised control within the meaning of Section 24564, and such gain or loss actually was not taken into account in the computation of taxes imposed by this part, the basis of the property or business acquired shall be the same as it was in the hands of the transferor.
Source: official California text · Last verified 2026-08-27
Frequently Asked Questions About California § 24964
What does Public Contract Code - PCC § 24964 cover?
Section 24964 ("Whenever a taxpayer has realized gain or loss upon the receipt after January 1, 1") is part of the Public Contract Code - PCC, the codified statutory law of California. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite California § 24964?
A common citation format is "Public Contract Code - PCC § 24964" (California). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of California law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the California official source linked on this page or consult a licensed California attorney.
How does California § 24964 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in California can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in California.