"Donald Sterling's Last Laugh: Tax-Free $2 Billion Clippers Sale - Forbes
...In that sense, the Section 1033 involuntary conversion
idea could be a bonanza. If successful, it could
eliminate not only the federal income taxes, but
California's painful taxes as well. That's right,
California replicates Section 1033. Sure, the IRS or the
California Franchise Tax Board could disagree. Sure,
he or his estate might have to go to court. But Mr.
Sterling might enjoy that and there's plenty at ..."
http://www.forbes.com/sites/robertwood/2014/06/04/donald-sterlings-last-laugh-tax-free-2-billion-clippers-sale/
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