2012 US Code
Title 25 - Indians
Chapter 14 - MISCELLANEOUS (§§ 441 - 1300n-6)
Subchapter XLIV - AGUA CALIENTE (PALM SPRINGS) RESERVATION OF CALIFORNIA: EQUALIZATION OF ALLOTMENTS (§§ 951 - 958)
Section 955 - Tax exemption
Publication Title | United States Code, 2012 Edition, Title 25 - INDIANS |
Category | Bills and Statutes |
Collection | United States Code |
SuDoc Class Number | Y 1.2/5: |
Contained Within | Title 25 - INDIANS CHAPTER 14 - MISCELLANEOUS SUBCHAPTER XLIV - AGUA CALIENTE (PALM SPRINGS) RESERVATION OF CALIFORNIA: EQUALIZATION OF ALLOTMENTS Sec. 955 - Tax exemption |
Contains | section 955 |
Date | 2012 |
Laws in Effect as of Date | January 15, 2013 |
Positive Law | No |
Disposition | standard |
Source Credit | Pub. L. 86-339, §5, Sept. 21, 1959, 73 Stat. 604; Pub. L. 100-581, title II, §216, Nov. 1, 1988, 102 Stat. 2941. |
Statutes at Large References | 73 Stat. 604 102 Stat. 2941 |
Public Law References | Public Law 86-339, Public Law 100-581 |
Download PDF
(a) The right to an equalization allotment or to a cash payment in lieu thereof pursuant to section 953(d) of this title, shall be transferable by will or descent in the same manner as are trust payments under existing law and shall not be subject to State or Federal inheritance, estate, legacy, or succession taxes.
(b) A cash payment made in lieu of an equalization allotment pursuant to section 953(d) of this title shall not be regarded as income or capital gain for purposes of Federal or State income taxation and shall not, as long as it remains in the form of cash or a bank deposit in the ownership of the allottee, be subject to taxation as personal property. A payment and the income derived therefrom heretofore or hereafter made to an allottee as compensation for the acquisition of part or all of the allottee's allotment for a public purpose is—
(1) deemed a cash payment in lieu of an allotment for purposes of this subsection;
(2) deemed a right under subsection (a) of this section; and
(3) subject to sections 409a and 410 of this title.
(Pub. L. 86–339, §5, Sept. 21, 1959, 73 Stat. 604; Pub. L. 100–581, title II, §216, Nov. 1, 1988, 102 Stat. 2941.)
Amendments1988—Subsec. (b). Pub. L. 100–581 inserted sentence at end relating to payment and income derived therefrom made as compensation for acquisition of part of all of allottee's allotment for public purpose.
Disclaimer: These codes may not be the most recent version. The United States Government Printing Office may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the US site. Please check official sources.