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California Law (Last Updated: March 4, 2014) |
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Revenue and Taxation Code - RTC |
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Division 2. OTHER TAXES |
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Part 10. PERSONAL INCOME TAX |
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Chapter 7. Exempt Trusts and Common Trust Funds |
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ARTICLE 3. Common Trust Funds |
Section 17677.
Latest version.
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Every trust company operating a common trust fund shall make a return under penalties of perjury for each taxable year, stating specifically with respect to such fund the items of gross income and the deductions allowed by this article and shall include in the return information sufficient to identify the trusts and estates entitled to share in the taxable income of the common trust fund and the amount of the proportionate share of each such participant.
(Repealed and added by Stats. 1983, Ch. 488, Sec. 48. Effective July 28, 1983.)