reglab/housing_qa huggingface dataset:
CA Rev & Tax Code § 24347.4 (2021)
2021 California Code|Revenue and Taxation Code - RTC|DIVISION 2 - OTHER TAXES|PART 11 - CORPORATION TAX LAW|CHAPTER 7 - Net Income|ARTICLE 1 - Deductions|Section 24347.4.

24347.4.  (a) Section 165(i) of the Internal Revenue Code, relating to disaster losses, is modified to additionally provide that an appraisal for the purpose of obtaining a loan of federal funds or a loan guarantee from the federal government as a result of a presidentially declared disaster (as defined by Section 1033(h)(3) of the Internal Revenue Code) may be used to establish the amount of any loss described in Section 165(i)(1) or (2) of the Internal Revenue Code to the extent provided in regulations or other guidance of the Secretary of the Treasury under Section 165(i)(4) of the Internal Revenue Code (as added by Section 912 of Public Law 105-34).(b) This section shall apply on and after August 5, 1997.(Added by Stats. 1998, Ch. 7, Sec. 32. Effective March 14, 1998.)
CA Rev & Tax Code § 24347.6 (2021)
2021 California Code|Revenue and Taxation Code - RTC|DIVISION 2 - OTHER TAXES|PART 11 - CORPORATION TAX LAW|CHAPTER 7 - Net Income|ARTICLE 1 - Deductions|Section 24347.6.

24347.6.  (a) An excess disaster loss, as defined in subdivision (c), shall be carried to other taxable years as provided in subdivision (b), with respect to losses sustained in the County of Mendocino as a result of the tsunami that occurred in March 2011.(b) (1) In the case of any loss allowed under Section 165 of the Internal Revenue Code, relating to losses, any excess disaster loss shall be carried forward to each of the five taxable years following the taxable year for which the loss is claimed. However, if there is any excess disaster loss remaining after the five-year period, then the applicable percentage, as set forth in paragraph (1) of subdivision (b) of Section 24416, of that excess disaster loss shall be carried forward to each of the next 10 taxable years.(2) The entire amount of any excess disaster loss as defined in subdivision (c) shall be carried to the earliest of the taxable years to which, by reason of subdivision (b), the loss may be carried. The portion of the loss which shall be carried to each of the other taxable years shall be the excess, if any, of the amount of excess disaster loss over the sum of the net income for each of the prior taxable years to which that excess disaster loss is carried.(c) “Excess disaster loss” means a disaster loss computed pursuant to Section 165 of the Internal Revenue Code, which exceeds the net income of the year of loss or, if the election under Section 165(i) of the Internal Revenue Code is made, the net income of the year preceding the loss.(d) This section and Section 165(i) of the Internal Revenue Code apply to any of the losses listed in subdivision (a) sustained in any county or city in this state which was proclaimed by the Governor to be in a state of disaster.(e) A corporation subject to Section 25101 or 25101.15 that has disaster losses pursuant to this section shall determine the excess disaster loss to be carried to other taxable years under the principles specified in Section 25108 relating to net operating losses.(f) Losses allowable under this section shall not be taken into account in computing a net operating loss deduction under Section 172 of the Internal Revenue Code.(g) For losses described in subdivision (a), the election under Section 165(i) of the Internal Revenue Code may be made on a return or amended return filed on or before the due date of the return (determined with regard to extension) for the taxable year in which the disaster occurred.(Amended by Stats. 2015, Ch. 303, Sec. 491. (AB 731) Effective January 1, 2016.)
CA Rev & Tax Code § 24347.7 (2021)
2021 California Code|Revenue and Taxation Code - RTC|DIVISION 2 - OTHER TAXES|PART 11 - CORPORATION TAX LAW|CHAPTER 7 - Net Income|ARTICLE 1 - Deductions|Section 24347.7.

24347.7.  (a) An excess disaster loss, as defined in subdivision (c), shall be carried to other taxable years as provided in subdivision (b), with respect to losses sustained in the County of Humboldt as a result of the earthquake that occurred in January 2010. (b) (1) In the case of any loss allowed under Section 165 of the Internal Revenue Code, relating to losses, any excess disaster loss shall be carried forward to each of the five taxable years following the taxable year for which the loss is claimed. However, if there is any excess disaster loss remaining after the five-year period, then the applicable percentage, as set forth in paragraph (1) of subdivision (b) of Section 24416, of that excess disaster loss shall be carried forward to each of the next 10 taxable years.(2) The entire amount of any excess disaster loss as defined in subdivision (c) shall be carried to the earliest of the taxable years to which, by reason of subdivision (b), the loss may be carried. The portion of the loss which shall be carried to each of the other taxable years shall be the excess, if any, of the amount of excess disaster loss over the sum of the net income for each of the prior taxable years to which that excess disaster loss is carried.(c) “Excess disaster loss” means a disaster loss computed pursuant to Section 165 of the Internal Revenue Code, which exceeds the net income of the year of loss or, if the election under Section 165(i) of the Internal Revenue Code is made, the net income of the year preceding the loss.(d) The provisions of this section and Section 165(i) of the Internal Revenue Code shall be applicable to any of the losses listed in subdivision (a) sustained in any county or city in this state which was proclaimed by the Governor to be in a state of disaster.(e) Any corporation subject to the provisions of Section 25101 or 25101.15 that has disaster losses pursuant to this section, shall determine the excess disaster loss to be carried to other taxable years under the principles specified in Section 25108 relating to net operating losses.(f) Losses allowable under this section may not be taken into account in computing a net operating loss deduction under Section 172 of the Internal Revenue Code.(g) For losses described in subdivision (a), the election under Section 165(i) of the Internal Revenue Code may be made on a return or amended return filed on or before the due date of the return (determined with regard to extension) for the taxable year in which the disaster occurred.(Added by Stats. 2010, Ch. 449, Sec. 6. (AB 1690) Effective September 29, 2010.)
CA Rev & Tax Code § 24347.8 (2021)
2021 California Code|Revenue and Taxation Code - RTC|DIVISION 2 - OTHER TAXES|PART 11 - CORPORATION TAX LAW|CHAPTER 7 - Net Income|ARTICLE 1 - Deductions|Section 24347.8.

24347.8.  (a) An excess disaster loss, as defined in subdivision (c), shall be carried to other taxable years as provided in subdivision (b), with respect to losses sustained in the County of Imperial as a result of the earthquake that occurred in April 2010.(b) (1) In the case of any loss allowed under Section 165 of the Internal Revenue Code, relating to losses, any excess disaster loss shall be carried forward to each of the five taxable years following the taxable year for which the loss is claimed. However, if there is any excess disaster loss remaining after the five-year period, then the applicable percentage, as set forth in paragraph (1) of subdivision (b) of Section 24416, of that excess disaster loss shall be carried forward to each of the next 10 taxable years.(2) The entire amount of any excess disaster loss as defined in subdivision (c) shall be carried to the earliest of the taxable years to which, by reason of subdivision (b), the loss may be carried. The portion of the loss which shall be carried to each of the other taxable years shall be the excess, if any, of the amount of excess disaster loss over the sum of the net income for each of the prior taxable years to which that excess disaster loss is carried.(c) “Excess disaster loss” means a disaster loss computed pursuant to Section 165 of the Internal Revenue Code, which exceeds the net income of the year of loss or, if the election under Section 165(i) of the Internal Revenue Code is made, the net income of the year preceding the loss.(d) The provisions of this section and Section 165(i) of the Internal Revenue Code shall be applicable to any of the losses listed in subdivision (a) sustained in any county or city in this state which was proclaimed by the Governor to be in a state of disaster.(e) Any corporation subject to the provisions of Section 25101 or 25101.15 that has disaster losses pursuant to this section, shall determine the excess disaster loss to be carried to other taxable years under the principles specified in Section 25108 relating to net operating losses.(f) Losses allowable under this section may not be taken into account in computing a net operating loss deduction under Section 172 of the Internal Revenue Code.(g) For losses described in subdivision (a), the election under Section 165(i) of the Internal Revenue Code may be made on a return or amended return filed on or before the due date of the return (determined with regard to extension) for the taxable year in which the disaster occurred. (Added by Stats. 2010, Ch. 461, Sec. 7. (AB 2136) Effective September 29, 2010.)
CA Rev & Tax Code § 24347.10 (2021)
2021 California Code|Revenue and Taxation Code - RTC|DIVISION 2 - OTHER TAXES|PART 11 - CORPORATION TAX LAW|CHAPTER 7 - Net Income|ARTICLE 1 - Deductions|Section 24347.10.

24347.10.  (a) An excess disaster loss, as defined in subdivision (c), shall be carried to other taxable years as provided in subdivision (b), with respect to losses sustained in the County of San Mateo as a result of the explosion and fire that occurred in September 2010.(b) (1) In the case of any loss allowed under Section 165 of the Internal Revenue Code, relating to losses, any excess disaster loss shall be carried forward to each of the five taxable years following the taxable year for which the loss is claimed. However, if there is any excess disaster loss remaining after the five-year period, then the applicable percentage, as set forth in paragraph (1) of subdivision (b) of Section 24416, of that excess disaster loss shall be carried forward to each of the next 10 taxable years.(2) The entire amount of any excess disaster loss as defined in subdivision (c) shall be carried to the earliest of the taxable years to which, by reason of subdivision (b), the loss may be carried. The portion of the loss which shall be carried to each of the other taxable years shall be the excess, if any, of the amount of excess disaster loss over the sum of the net income for each of the prior taxable years to which that excess disaster loss is carried.(c) “Excess disaster loss” means a disaster loss computed pursuant to Section 165 of the Internal Revenue Code, which exceeds the net income of the year of loss or, if the election under Section 165(i) of the Internal Revenue Code is made, the net income of the year preceding the loss.(d) This section and Section 165(i) of the Internal Revenue Code apply to any of the losses listed in subdivision (a) sustained in any county or city in this state which was proclaimed by the Governor to be in a state of disaster.(e) A corporation subject to Section 25101 or 25101.15 that has disaster losses pursuant to this section shall determine the excess disaster loss to be carried to other taxable years under the principles specified in Section 25108 relating to net operating losses.(f) Losses allowable under this section shall not be taken into account in computing a net operating loss deduction under Section 172 of the Internal Revenue Code.(g) For losses described in subdivision (a), the election under Section 165(i) of the Internal Revenue Code may be made on a return or amended return filed on or before the due date of the return (determined with regard to extension) for the taxable year in which the disaster occurred.(Amended by Stats. 2015, Ch. 303, Sec. 492. (AB 731) Effective January 1, 2016.)
CA Rev & Tax Code § 24347.11 (2021)
2021 California Code|Revenue and Taxation Code - RTC|DIVISION 2 - OTHER TAXES|PART 11 - CORPORATION TAX LAW|CHAPTER 7 - Net Income|ARTICLE 1 - Deductions|Section 24347.11.

24347.11.  (a) Section 165(i) of the Internal Revenue Code shall be applicable to any losses sustained in the County of Santa Cruz as a result of the severe storms that occurred in March 2011.(b) For losses described in subdivision (a), the election under Section 165(i) of the Internal Revenue Code may be made on a return or amended return filed on or before the due date of the return, determined with regard to extension, for the taxable year in which the disaster occurred.(c) Unless specifically provided otherwise, any law that suspends, defers, reduces, or otherwise diminishes the deduction of a net operating loss shall not apply to a net operating loss attributable to the loss described in subdivision (a).(Added by Stats. 2012, Ch. 203, Sec. 2. (AB 2332) Effective August 27, 2012.)
CA Rev & Tax Code § 24347.12 (2021)
2021 California Code|Revenue and Taxation Code - RTC|DIVISION 2 - OTHER TAXES|PART 11 - CORPORATION TAX LAW|CHAPTER 7 - Net Income|ARTICLE 1 - Deductions|Section 24347.12.

24347.12.  (a) Section 165(i) of the Internal Revenue Code shall be applicable to any losses sustained in the Counties of Los Angeles and San Bernardino as a result of the severe winds that occurred in November 2011.(b) For losses described in subdivision (a), the election under Section 165(i) of the Internal Revenue Code may be made on a return or amended return filed on or before the due date of the return, determined with regard to extension, for the taxable year in which the disaster occurred.(c) Unless specifically provided otherwise, any law that suspends, defers, reduces, or otherwise diminishes the deduction of a net operating loss shall not apply to a net operating loss attributable to the loss described in subdivision (a). (Added by Stats. 2012, Ch. 284, Sec. 2. (SB 1544) Effective September 7, 2012.)
CA Rev & Tax Code § 24347.13 (2021)
2021 California Code|Revenue and Taxation Code - RTC|DIVISION 2 - OTHER TAXES|PART 11 - CORPORATION TAX LAW|CHAPTER 7 - Net Income|ARTICLE 1 - Deductions|Section 24347.13.

24347.13.  (a) Section 165(i) of the Internal Revenue Code shall be applicable to any losses sustained in the County of San Diego as a result of the wildfires that occurred in May 2014.(b) For losses described in subdivision (a), the election under Section 165(i) of the Internal Revenue Code may be made on a return or amended return filed on or before the due date of the return, determined with regard to extension, for the taxable year in which the disaster occurred.(c) Unless specifically provided otherwise, any law that suspends, defers, reduces, or otherwise diminishes the deduction of a net operating loss shall not apply to a net operating loss attributable to the loss described in subdivision (a). (Added by Stats. 2014, Ch. 352, Sec. 2. (AB 922) Effective September 16, 2014.)
CA Rev & Tax Code § 24347.14 (2021)
2021 California Code|Revenue and Taxation Code - RTC|DIVISION 2 - OTHER TAXES|PART 11 - CORPORATION TAX LAW|CHAPTER 7 - Net Income|ARTICLE 1 - Deductions|Section 24347.14.

24347.14.  (a) For taxable years beginning on or after January 1, 2014, and before January 1, 2024, Section 165(i) of the Internal Revenue Code, relating to disaster losses, shall be applicable to any loss sustained as a result of any disaster occurring in any city, county, or city and county in this state that is proclaimed by the Governor to be in a state of emergency.(b) (1) For losses described in subdivision (a), the election under Section 165(i) of the Internal Revenue Code, relating to disaster losses, may be made on a return or amended return filed on or before the due date of the return, determined with regard to any extension of time for filing the return, for the taxable year in which the disaster occurred.(2) Notwithstanding Section 18572, this subdivision shall apply to any loss described in subdivision (a).(c) Unless specifically provided otherwise, any law, other than Section 24416.20, that suspends, defers, reduces, or otherwise diminishes the deduction of a net operating loss shall not apply to a net operating loss attributable to the loss described in subdivision (a). (d) This section shall remain in effect only until December 1, 2024, and as of that date is repealed. (Added by Stats. 2015, Ch. 230, Sec. 3. (SB 35) Effective September 1, 2015. Repealed as of December 1, 2024, by its own provisions.)
CA Rev & Tax Code § 24349.1 (2021)
2021 California Code|Revenue and Taxation Code - RTC|DIVISION 2 - OTHER TAXES|PART 11 - CORPORATION TAX LAW|CHAPTER 7 - Net Income|ARTICLE 1 - Deductions|Section 24349.1.

24349.1.  (a) Section 280F of the Internal Revenue Code, relating to limitations on depreciation for luxury automobiles and certain property used for personal purposes, shall apply, except as otherwise provided.(b) Except as provided in subdivision (c), Section 280F of the Internal Revenue Code shall be modified as follows:(1) The terms “deduction” or “recovery deduction,” relating to amounts allowable as a deduction under Section 168 of the Internal Revenue Code, mean the amount allowable as a deduction for depreciation under this part.(2) The term “recovery period,” relating to property under Section 168 of the Internal Revenue Code, means the class life asset depreciation range allowable under this part.(3) The provisions of Section 280F of the Internal Revenue Code which relate to the investment tax credit shall not be applicable for purposes of this part.(c) Paragraphs (1) and (2) of subdivision (b) shall not apply to Section 24356.7 property.(Amended by Stats. 1997, Ch. 603, Sec. 20. Effective October 3, 1997.)
CA Rev & Tax Code § 24349.2 (2021)
2021 California Code|Revenue and Taxation Code - RTC|DIVISION 2 - OTHER TAXES|PART 11 - CORPORATION TAX LAW|CHAPTER 7 - Net Income|ARTICLE 1 - Deductions|Section 24349.2.

24349.2.  Section 280G of the Internal Revenue Code, relating to golden parachute payments, shall apply, except as otherwise provided.(Added by Stats. 2010, Ch. 14, Sec. 67. (SB 401) Effective January 1, 2011.)
CA Rev & Tax Code § 24350 (2021)
2021 California Code|Revenue and Taxation Code - RTC|DIVISION 2 - OTHER TAXES|PART 11 - CORPORATION TAX LAW|CHAPTER 7 - Net Income|ARTICLE 1 - Deductions|Section 24350.

24350.  Paragraphs (2), (3), and (4) of Section 24349(b) shall apply only in the case of property (other than intangible property) described in Section 24349(a) with a useful life of three years or more—(a) The construction, reconstruction, or erection of which is completed after December 31, 1958, and then only to that portion of the basis which is properly attributable to such construction, reconstruction, or erection after December 31, 1958; or(b) Acquired after December 31, 1958, if the original use of such property commences with the taxpayer and commences after such date.(Amended by Stats. 1959, Ch. 1127.)
CA Rev & Tax Code § 24351 (2021)
2021 California Code|Revenue and Taxation Code - RTC|DIVISION 2 - OTHER TAXES|PART 11 - CORPORATION TAX LAW|CHAPTER 7 - Net Income|ARTICLE 1 - Deductions|Section 24351.

24351.  Where, under regulations prescribed by the Franchise Tax Board, the taxpayer and the Franchise Tax Board have, after the date of enactment of this section, entered into an agreement in writing specifically dealing with the useful life and rate of depreciation of any property, the rate so agreed upon shall be binding on both the taxpayer and the Franchise Tax Board in the absence of facts or circumstances not taken into consideration in the adoption of such agreement. The responsibility of establishing the existence of such facts and circumstances shall rest with the party initiating the modification. Any change in the agreed rate and useful life specified in the agreement shall not be effective for taxable years before the taxable year in which notice in writing by certified mail or registered mail is served by the party to the agreement initiating such change.(Amended by Stats. 2000, Ch. 862, Sec. 134. Effective January 1, 2001.)
CA Rev & Tax Code § 24352 (2021)
2021 California Code|Revenue and Taxation Code - RTC|DIVISION 2 - OTHER TAXES|PART 11 - CORPORATION TAX LAW|CHAPTER 7 - Net Income|ARTICLE 1 - Deductions|Section 24352.

24352.  In the absence of an agreement under Section 24351 containing a provision to the contrary, a taxpayer may at any time elect in accordance with regulations prescribed by the Franchise Tax Board to change from the method of depreciation described in Section 24349(b)(2) to the method described in Section 24349(b)(1).(Added by Stats. 1959, Ch. 1127.)
CA Rev & Tax Code § 24352.5 (2021)
2021 California Code|Revenue and Taxation Code - RTC|DIVISION 2 - OTHER TAXES|PART 11 - CORPORATION TAX LAW|CHAPTER 7 - Net Income|ARTICLE 1 - Deductions|Section 24352.5.

24352.5.  (a) Under regulations prescribed by the Franchise Tax Board, a taxpayer may, for purposes of computing the allowance under Section 24349 with respect to personal property, reduce the amount taken into account as salvage value by an amount which does not exceed 10 percent of the basis of such property (as determined under Section 24353 as of the time as of which such salvage value is required to be determined).(b) For purposes of this section, the term “personal property” means depreciable personal property (other than livestock) with a useful life of three years or more.(Added by Stats. 1971, 1st Ex. Sess., Ch. 1.)
CA Rev & Tax Code § 24353 (2021)
2021 California Code|Revenue and Taxation Code - RTC|DIVISION 2 - OTHER TAXES|PART 11 - CORPORATION TAX LAW|CHAPTER 7 - Net Income|ARTICLE 1 - Deductions|Section 24353.

24353.  (a) The basis on which exhaustion, wear and tear, and obsolescence are to be allowed in respect of any property shall be the adjusted basis provided in Section 24911 for the purpose of determining the gain on the sale or other disposition of the property.(b) If any property is acquired subject to a lease, each of the following shall apply:(1) No portion of the adjusted basis shall be allocated to the leasehold interest.(2) The entire adjusted basis shall be taken into account in determining the depreciation deduction, if any, with respect to the property subject to lease.(Amended by Stats. 1994, Ch. 861, Sec. 8. Effective September 27, 1994.)
CA Rev & Tax Code § 24354 (2021)
2021 California Code|Revenue and Taxation Code - RTC|DIVISION 2 - OTHER TAXES|PART 11 - CORPORATION TAX LAW|CHAPTER 7 - Net Income|ARTICLE 1 - Deductions|Section 24354.

24354.  In the case of property held by one person for life with remainder to another person, the deduction shall be computed as if the life tenant were the absolute owner of the property and shall be allowed to the life tenant. In the case of property held in trust, the allowable deduction shall be apportioned between the income beneficiaries and the trustee in accordance with the pertinent provisions of the instrument creating the trust, or, in the absence of such provisions on the basis of the trust income allocable to each.(Added by Stats. 1959, Ch. 1127.)
CA Rev & Tax Code § 24355 (2021)
2021 California Code|Revenue and Taxation Code - RTC|DIVISION 2 - OTHER TAXES|PART 11 - CORPORATION TAX LAW|CHAPTER 7 - Net Income|ARTICLE 1 - Deductions|Section 24355.

24355.  Section 167(f) of the Internal Revenue Code, relating to treatment of property excluded from Section 197, shall apply, except as otherwise provided.(Amended by Stats. 1997, Ch. 611, Sec. 83. Effective October 3, 1997.)
CA Rev & Tax Code § 24355.3 (2021)
2021 California Code|Revenue and Taxation Code - RTC|DIVISION 2 - OTHER TAXES|PART 11 - CORPORATION TAX LAW|CHAPTER 7 - Net Income|ARTICLE 1 - Deductions|Section 24355.3.

24355.3.  For purposes of computing the depreciation deduction pursuant to Section 24349, the useful life of any Alaska natural gas pipeline, as defined in Section 168(i)(16) of the Internal Revenue Code, shall be seven years.(Added by renumbering Section 24355.5 (as renumbered by Stats. 2015, Ch. 303, Sec. 493) by Stats. 2016, Ch. 86, Sec. 293. (SB 1171) Effective January 1, 2017.)