§ 24357.3
58 words·~1 min read·
/ca/revenue-and-taxation-code/24357-3A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
For purposes of Section 24357, in determining the value of a remainder interest in real property, depreciation (computed on the straight line method) and depletion of such property shall be taken into account, and such value shall be discounted at a rate of 6 percent per annum, except that the Franchise Tax Board may prescribe a different rate.