Guest svatty Posted September 1, 2000 Share Posted September 1, 2000 I have a question I was hoping someone might be able to help me with. If I elect a Code section 1042 deferral of gain on a sale of employer securities to an ESOP does such an election also operate as a deferral of gain on the sale under California tax law, such that I will not be responsible for California state taxes until I sell such replacement securities? Thanks! Link to comment Share on other sites More sharing options...
RLL Posted September 2, 2000 Share Posted September 2, 2000 The California tax law was conformed to include IRC Section 1042 tax-deferred treatment. But you may be required to file a separate election with the California income tax return. Link to comment Share on other sites More sharing options...
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