reglab/housing_qa huggingface dataset:
CA Rev & Tax Code § 24416.1 (2021)
2021 California Code|Revenue and Taxation Code - RTC|DIVISION 2 - OTHER TAXES|PART 11 - CORPORATION TAX LAW|CHAPTER 7 - Net Income|ARTICLE 2 - Special Deductions|Section 24416.1.

24416.1.  (a) A qualified taxpayer, as defined in Section 24416.2, 24416.4, 24416.5, 24416.6, or 24416.7, may elect to take the deduction provided by Section 172 of the Internal Revenue Code, relating to the net operating loss deduction, as modified by Section 24416, in computing net income under Section 24341, with the following exceptions to Section 24416:(1) Subdivision (a) of Section 24416, relating to years in which allowable losses are sustained, shall not be applicable.(2) Subdivision (b) of Section 24416, relating to the 50-percent reduction of losses, shall not be applicable.(3) The provisions of subparagraphs (B) and (C) of Section 172 (b) (1) of the Internal Revenue Code shall not apply. To the extent applicable to California law, net operating losses attributable to entities with losses described by Section 172(b)(1)(J) shall be applied in accordance with Section 172(b)(1)(A) and (B) of the Internal Revenue Code. (b) Corporations whose income is subject to the provisions of Section 25101 or 25101.15 shall make the computations required by Section 25108. (c) The election to compute the net operating loss under this section shall be made in a statement attached to the original return, timely filed for the year in which the net operating loss is incurred and shall be irrevocable. In addition to the exceptions specified in subdivision (a), Section 24416.2, 24416.4, 24416.5, 24416.6, or 24416.7, as appropriate, shall be applicable.(d) Any carryover of a net operating loss sustained by a qualified taxpayer, as defined in subdivision (a) or (b) of Section 24416.2 as that section read immediately prior to January 1, 1997, shall, if previously elected, continue to be a deduction, as provided in subdivision (a), applied as if the provisions of subdivision (a) or (b) of Section 24416.2, as that section read prior to January 1, 1997, still applied.(Amended by Stats. 2001, Ch. 623, Sec. 5. Effective October 9, 2001.)
CA Rev & Tax Code § 24416.3 (2021)
2021 California Code|Revenue and Taxation Code - RTC|DIVISION 2 - OTHER TAXES|PART 11 - CORPORATION TAX LAW|CHAPTER 7 - Net Income|ARTICLE 2 - Special Deductions|Section 24416.3.

24416.3.  (a) Notwithstanding Sections 24416, 24416.1, 24416.2, 24416.4, 24416.5, 24416.6, and 24416.7 of this code and Section 172 of the Internal Revenue Code, no net operating loss deduction shall be allowed for any taxable year beginning on or after January 1, 2002, and before January 1, 2004.(b) For any carryover of a net operating loss for which a deduction is denied by subdivision (a), the carryover period under Section 172 of the Internal Revenue Code shall be extended as follows:(1) By one year, for losses incurred in taxable years beginning on or after January 1, 2002, and before January 1, 2003.(2) By two years, for losses incurred in taxable years beginning before January 1, 2002.(Amended by Stats. 2002, Ch. 488, Sec. 11. Effective September 12, 2002.)
CA Rev & Tax Code § 24416.22 (2021)
2021 California Code|Revenue and Taxation Code - RTC|DIVISION 2 - OTHER TAXES|PART 11 - CORPORATION TAX LAW|CHAPTER 7 - Net Income|ARTICLE 2 - Special Deductions|Section 24416.22.

24416.22.  Notwithstanding Section 24416.1, 24416.2, 24416.4, 24416.5, 24416.6, or 24416.7 to the contrary, a net operating loss attributable to a taxable year beginning on or after January 1, 2008, shall be a net operating carryover to each of the 20 taxable years following the year of the loss, and a net operating loss attributable to a taxable year beginning on or after January 1, 2013, and before January 1, 2019, shall also be a net operating loss carryback to each of the two taxable years preceding the taxable year of loss.(Amended by Stats. 2019, Ch. 39, Sec. 26. (AB 91) Effective July 1, 2019.)
CA Rev & Tax Code § 24416.23 (2021)
2021 California Code|Revenue and Taxation Code - RTC|DIVISION 2 - OTHER TAXES|PART 11 - CORPORATION TAX LAW|CHAPTER 7 - Net Income|ARTICLE 2 - Special Deductions|Section 24416.23.

24416.23.  (a) Notwithstanding Sections 24416, 24416.1, 24416.4, 24416.7, and 24416.22, former Sections 24416.2, 24416.5, 24416.6, and 24416.20, and Section 172 of the Internal Revenue Code, a net operating loss deduction shall not be allowed for any taxable year beginning on or after January 1, 2020, and before January 1, 2022.(b) For any net operating loss or carryover of a net operating loss for which a deduction is denied by subdivision (a), the carryover period under Section 172 of the Internal Revenue Code shall be extended as follows:(1) By one year, for losses incurred in taxable years beginning on or after January 1, 2021, and before January 1, 2022.(2) By two years, for losses incurred in taxable years beginning on or after January 1, 2020, and before January 1, 2021.(3) By three years, for losses incurred in taxable years beginning before January 1, 2020.(c) The disallowance of any net operating loss deduction for any taxable year beginning on or after January 1, 2020, and before January 1, 2022, pursuant to subdivision (a) shall not apply to a taxpayer with income subject to tax under this part of less than one million dollars ($1,000,000) for the taxable year.(d) The amendments made to this section by the act adding this subdivision shall be operative for taxable years beginning on or after January 1, 2022.(Amended by Stats. 2022, Ch. 3, Sec. 21. (SB 113) Effective February 9, 2022.)
CA Rev & Tax Code § 24421 (2021)
2021 California Code|Revenue and Taxation Code - RTC|DIVISION 2 - OTHER TAXES|PART 11 - CORPORATION TAX LAW|CHAPTER 7 - Net Income|ARTICLE 3 - Items Not Deductible|Section 24421.

24421.  In computing “net income” of taxpayers under this part, no deduction shall be allowed for the items specified in this article.(Added by Stats. 1955, Ch. 938.)
CA Rev & Tax Code § 24422 (2021)
2021 California Code|Revenue and Taxation Code - RTC|DIVISION 2 - OTHER TAXES|PART 11 - CORPORATION TAX LAW|CHAPTER 7 - Net Income|ARTICLE 3 - Items Not Deductible|Section 24422.

24422.  No deduction shall be allowed for both of the following:(a) Any amount paid out for new buildings or for permanent improvements or betterments made to increase the value of any property or estate. This subdivision shall not apply to:(1) Expenditures for the development of mines or deposits deductible under Section 616 of the Internal Revenue Code.(2) Soil and water conservation expenditures deductible under Section 24369.(3) Expenditures for farmers for fertilizer, etc., deductible under Section 24377.(4) Research and experimental expenditures deductible under Section 24365.(5) Expenditures for which a deduction is allowed under Section 24356.7.(6) Expenditures for removal of architectural and transportation barriers to the handicapped and elderly that the taxpayer elects to deduct under Section 24383.(b) Any amount expended in restoring property or in making good the exhaustion thereof for which an allowance is or has been made.(Amended by Stats. 2011, Ch. 296, Sec. 285. (AB 1023) Effective January 1, 2012.)
CA Rev & Tax Code § 24422.3 (2021)
2021 California Code|Revenue and Taxation Code - RTC|DIVISION 2 - OTHER TAXES|PART 11 - CORPORATION TAX LAW|CHAPTER 7 - Net Income|ARTICLE 3 - Items Not Deductible|Section 24422.3.

24422.3.  (a) Section 263A of the Internal Revenue Code, relating to capitalization and inclusion in inventory costs of certain expenses, shall apply, except as otherwise provided.(b) (1) For taxable years beginning on or after January 1, 2019, the amendments made by Section 13102(b) of the Tax Cuts and Jobs Act (Public Law 115-97) to Section 263A of the Internal Revenue Code, relating to capitalization and inclusion in inventory cost of certain expenses, shall apply, except as otherwise provided.(2) (A) Any change in method of accounting made pursuant to this subdivision shall be treated for purposes of applying Section 24721, as initiated by the taxpayer and made with the consent of the Franchise Tax Board.(B) Section 13102(e)(1) of the Tax Cuts and Jobs Act (Public Law 115-97) does not apply to this subdivision.(C) Notwithstanding subparagraph (B), a taxpayer may elect to apply the provisions of this subdivision to taxable years beginning on or after January 1, 2018, and before January 1, 2019.(Amended by Stats. 2019, Ch. 39, Sec. 27. (AB 91) Effective July 1, 2019.)
CA Rev & Tax Code § 24423 (2021)
2021 California Code|Revenue and Taxation Code - RTC|DIVISION 2 - OTHER TAXES|PART 11 - CORPORATION TAX LAW|CHAPTER 7 - Net Income|ARTICLE 3 - Items Not Deductible|Section 24423.

24423.  (a) Notwithstanding Section 24422, regulations shall be prescribed by the Franchise Tax Board under this part corresponding to the regulations which granted the option to deduct as expenses intangible drilling and development costs in the case of oil and gas wells and which were recognized and approved by the Congress in House Concurrent Resolution 50, Seventy-ninth Congress.(b) The provisions of Section 263(i) of the Internal Revenue Code, relating to special rules for intangible drilling and development costs incurred outside the United States, shall apply to costs paid or incurred after December 31, 1986.(Amended by Stats. 1987, Ch. 1139, Sec. 91. Effective September 25, 1987. Applicable to income years beginning on or after January 1, 1987, by Sec. 241 of Ch. 1139.)
CA Rev & Tax Code § 24424 (2021)
2021 California Code|Revenue and Taxation Code - RTC|DIVISION 2 - OTHER TAXES|PART 11 - CORPORATION TAX LAW|CHAPTER 7 - Net Income|ARTICLE 3 - Items Not Deductible|Section 24424.

24424.  Section 264 of the Internal Revenue Code, relating to certain amounts paid in connection with insurance contracts, shall apply, except as otherwise provided.(Repealed and added by Stats. 2002, Ch. 35, Sec. 52. Effective May 8, 2002.)
CA Rev & Tax Code § 24426 (2021)
2021 California Code|Revenue and Taxation Code - RTC|DIVISION 2 - OTHER TAXES|PART 11 - CORPORATION TAX LAW|CHAPTER 7 - Net Income|ARTICLE 3 - Items Not Deductible|Section 24426.

24426.  Amounts paid or accrued for such taxes and carrying charges as, under regulations prescribed by the Franchise Tax Board, are chargeable to capital account with respect to property, if the taxpayer elects, in accordance with such regulations, to treat such taxes or charges as so chargeable.(Added by Stats. 1955, Ch. 938.)
CA Rev & Tax Code § 24427 (2021)
2021 California Code|Revenue and Taxation Code - RTC|DIVISION 2 - OTHER TAXES|PART 11 - CORPORATION TAX LAW|CHAPTER 7 - Net Income|ARTICLE 3 - Items Not Deductible|Section 24427.

24427.  Section 267 of the Internal Revenue Code, relating to losses, expenses, and interest with respect to transactions between related taxpayers, shall apply, except as otherwise provided.(Amended by Stats. 2015, Ch. 359, Sec. 32. (AB 154) Effective September 30, 2015. Applicable to taxable years beginning on or after January 1, 2015, as provided in Sec. 41 of Stats. 2015, Ch. 359.)
CA Rev & Tax Code § 24429 (2021)
2021 California Code|Revenue and Taxation Code - RTC|DIVISION 2 - OTHER TAXES|PART 11 - CORPORATION TAX LAW|CHAPTER 7 - Net Income|ARTICLE 3 - Items Not Deductible|Section 24429.

24429.  Section 276 of the Internal Revenue Code, relating to certain indirect contributions to political parties, shall apply, except as otherwise provided.(Added by Stats. 1997, Ch. 611, Sec. 89. Effective October 3, 1997.)
CA Rev & Tax Code § 24431 (2021)
2021 California Code|Revenue and Taxation Code - RTC|DIVISION 2 - OTHER TAXES|PART 11 - CORPORATION TAX LAW|CHAPTER 7 - Net Income|ARTICLE 3 - Items Not Deductible|Section 24431.

24431.  (a) If—(1) Any person or persons acquire, or acquired on or after October 8, 1940, directly or indirectly, control of a corporation; or(2) Any corporation acquires, or acquired on or after October 8, 1940, directly or indirectly, property of another corporation, not controlled, directly or indirectly, immediately before such acquisition, by such acquiring corporation or its stockholders, the basis of which property, in the hands of the acquiring corporation, is determined by reference to the basis in the hands of the transferor corporation;and the principal purpose for which such acquisition was made is evasion or avoidance of tax under this part by securing the benefit of a deduction, credit, or other allowance which such person or corporation would not otherwise enjoy, then such deduction, credit, or other allowance shall not be allowed. For purposes of this subdivision, control means the ownership of stock possessing at least 50 percent of the total combined voting power of all classes of stock entitled to vote or at least 50 percent of the total value of shares of all classes of stock of the corporation.(b) (1) If—(A) There is a qualified stock purchase by a corporation of another corporation,(B) An election is not made under Section 24519 with respect to that purchase, (C) The acquired corporation is liquidated pursuant to a plan of liquidation adopted not more than two years after the acquisition date, and(D) The principal purpose for that liquidation is the evasion or avoidance of tax under this part by securing the benefit of a deduction, credit, or other allowance which the acquiring corporation would not otherwise enjoy,then the Franchise Tax Board may disallow that deduction, credit, or other allowance.(2) For purposes of paragraph (1), the terms “qualified stock purchase” and “acquisition date” have the same respective meanings as when used in Section 24519.(c) In any case to which subdivision (a) applies, the Franchise Tax Board may do any of the following:(1) Allow as a deduction, credit, or allowance any part of any amount disallowed by that section, if it determines that such allowance will not result in the evasion or avoidance of tax under this part for which the acquisition was made. (2) Distribute, apportion, or allocate gross income, and distribute, apportion, or allocate the deductions, credits, or allowances the benefit of which was sought to be secured, between or among the corporations, or properties, or parts thereof, involved, and to allow those deductions, credits, or allowances so distributed, apportioned, or allocated, but to give effect to that allowance only to the extent which it determines shall not result in the evasion or avoidance of tax under this part for which the acquisition was made.(3) Exercise its powers, in part, under paragraph (1) and, in part, under paragraph (2).(Amended by Stats. 1985, Ch. 1461, Sec. 111. Effective October 1, 1985.)
CA Rev & Tax Code § 24434 (2021)
2021 California Code|Revenue and Taxation Code - RTC|DIVISION 2 - OTHER TAXES|PART 11 - CORPORATION TAX LAW|CHAPTER 7 - Net Income|ARTICLE 3 - Items Not Deductible|Section 24434.

24434.  (a) In the case of a taxpayer (other than a bank as defined in Section 23039) no deduction shall be allowed under Section 24347 or 24348 by reason of the worthlessness of any debt owed by a political party.(b) (1) For purposes of subdivision (a), the term “political party” means any of the following:(A) A political party. (B) A national, state, or local committee of a political party. (C) A committee, association, or organization which accepts contributions or makes expenditures for the purpose of influencing or attempting to influence the election of presidential or vice presidential electors or of any individual whose name is presented for election to any federal, state, or local elective public office, whether or not such individual is elected. (2) For purposes of paragraph (1)(C), the term “contributions” includes a gift, subscription, loan, advance, or deposit, of money, or anything of value, and includes a contract, promise, or agreement to make a contribution, whether or not legally enforceable. (3) For purposes of paragraph (1)(C), the term “expenditures” includes a payment, distribution, loan, advance, deposit, or gift, of money, or anything of value, and includes a contract, promise, or agreement to make an expenditure, whether or not legally enforceable. (c) In the case of a taxpayer who uses an accrual method of accounting, subdivision (a) shall not apply to a debt which accrued as a receivable on a bona fide sale of goods or services in the ordinary course of a taxpayer’s trade or business if both of the following apply:(1) For the taxable year in which the receivable accrued, more than 30 percent of all receivables which accrued in the ordinary course of the trades or businesses of the taxpayer were due from political parties.(2) The taxpayer made substantial continuing efforts to collect on the debt.(Amended by Stats. 2000, Ch. 862, Sec. 166. Effective January 1, 2001.)
CA Rev & Tax Code § 24436.1 (2021)
2021 California Code|Revenue and Taxation Code - RTC|DIVISION 2 - OTHER TAXES|PART 11 - CORPORATION TAX LAW|CHAPTER 7 - Net Income|ARTICLE 3 - Items Not Deductible|Section 24436.1.

24436.1.  (a) In computing net income, deductions, including deductions for cost of goods sold, shall not be allowed to any taxpayer from any of its gross income directly derived from any act or omission of criminal profiteering activity, as defined in Section 186.2 of the Penal Code, or as defined in Chapter 6 (commencing with Section 11350) of Division 10 of the Health and Safety Code, or Article 5 (commencing with Section 750) of Chapter 1 of Part 2 of Division 1 of the Insurance Code; and deductions shall not be allowed to any taxpayer on any of its gross income derived from any other activities which directly tend to promote or to further, or are directly connected or associated with, those acts or omissions.(b) A prior, final determination by a court of competent jurisdiction of this state in any criminal proceedings or any proceeding in which the state, county, city and county, city, or other political subdivision was a party thereto on the merits of the legality of the activities of a taxpayer, or predecessor in interest of a taxpayer, shall be required in order for subdivision (a) to apply and shall be binding upon the Franchise Tax Board and the State Board of Equalization.(c) (1) Except as provided in paragraphs (2) and (3), this section shall be applied with respect to taxable years that have not been closed by a statute of limitations, res judicata, or otherwise as of September 14, 1982.(2) The amendments made to this section by Chapter 962 of the Statutes of 1984 shall be applied with respect to taxable years that have not been closed by a statute of limitations, res judicata, or otherwise as of January 1, 1985.(3) The amendments made to this section by Chapter 454 of the Statutes of 2011 shall be applied with respect to taxable years that have not been closed by a statute of limitations, res judicata, or otherwise as of the effective date of that act.(Amended by Stats. 2012, Ch. 162, Sec. 173. (SB 1171) Effective January 1, 2013.)
CA Rev & Tax Code § 24437 (2021)
2021 California Code|Revenue and Taxation Code - RTC|DIVISION 2 - OTHER TAXES|PART 11 - CORPORATION TAX LAW|CHAPTER 7 - Net Income|ARTICLE 3 - Items Not Deductible|Section 24437.

24437.  Section 277 of the Internal Revenue Code, relating to deductions incurred by certain membership organizations in transactions with members, shall apply, except as otherwise provided.(Amended by Stats. 1993, Ch. 877, Sec. 58. Effective October 6, 1993.)
CA Rev & Tax Code § 24439 (2021)
2021 California Code|Revenue and Taxation Code - RTC|DIVISION 2 - OTHER TAXES|PART 11 - CORPORATION TAX LAW|CHAPTER 7 - Net Income|ARTICLE 3 - Items Not Deductible|Section 24439.

24439.  (a) No deduction shall be allowed to the issuing corporation for any premium paid or incurred upon the repurchase of a bond, debenture, note, or certificate or other evidence of indebtedness which is convertible into the stock of the issuing corporation, or a corporation in the same parent-subsidiary controlled group, within the meaning of Section 1563(a)(1) of the Internal Revenue Code, relating to parent-subsidiary controlled group, as the issuing corporation, to the extent the repurchase price exceeds an amount equal to the adjusted issue price plus a normal call premium on bonds or other evidences of indebtedness which are not convertible. The preceding sentence shall not apply to the extent that the corporation can demonstrate to the satisfaction of the Franchise Tax Board that such excess is attributable to the cost of borrowing and is not attributable to the conversion feature. (b) For purposes of subdivision (a), the adjusted issue price is the issue price, as defined in Sections 1273(b) and 1274 of the Internal Revenue Code, increased by any amount of discount deducted before repurchase, or, in the case of bonds or other evidences of indebtedness issued after February 28, 1913, decreased by any amount of premium included in gross income before repurchase by the issuing corporation.(c) The provisions of this section shall not apply to a convertible bond or other convertible evidence of indebtedness repurchased pursuant to a binding obligation incurred on or before April 22, 1969, to repurchase such bond or other evidence of indebtedness at a specified call premium, but no inference shall be drawn from the fact that this section does not apply to the repurchase of such convertible bond or other convertible evidence of indebtedness.(d) The amendments made to this section by the act adding this subdivision shall apply to repurchases on or after January 1, 2015. (Amended by Stats. 2015, Ch. 359, Sec. 33. (AB 154) Effective September 30, 2015. Applicable to taxable years beginning on or after January 1, 2015, as provided in Sec. 41 of Stats. 2015, Ch. 359.)
CA Rev & Tax Code § 24440 (2021)
2021 California Code|Revenue and Taxation Code - RTC|DIVISION 2 - OTHER TAXES|PART 11 - CORPORATION TAX LAW|CHAPTER 7 - Net Income|ARTICLE 3 - Items Not Deductible|Section 24440.

24440.  (a) Section 280C(b) of the Internal Revenue Code, relating to credit for qualified clinical testing expenses for certain drugs, shall apply, except as otherwise provided.(b) (1) Section 280C(c) of the Internal Revenue Code, relating to credit for increasing research activities, shall apply, except as otherwise provided.(2) Section 280C(c)(3)(B) of the Internal Revenue Code is modified to refer to Section 23151, 23186, or 23802 in lieu of Section 11(b)(1) of the Internal Revenue Code.(Amended by Stats. 1993, Ch. 878, Sec. 18. Effective January 1, 1994.)
CA Rev & Tax Code § 24441 (2021)
2021 California Code|Revenue and Taxation Code - RTC|DIVISION 2 - OTHER TAXES|PART 11 - CORPORATION TAX LAW|CHAPTER 7 - Net Income|ARTICLE 3 - Items Not Deductible|Section 24441.

24441.  In computing net income no deduction shall be allowed for (a) abandonment fees paid in respect of property on which the open-space easement is terminated under Section 51061 or 51093 of the Government Code or (b) tax recoupment fees paid under Section 51142 of the Government Code.(Amended by Stats. 1977, Ch. 853.)
CA Rev & Tax Code § 24442 (2021)
2021 California Code|Revenue and Taxation Code - RTC|DIVISION 2 - OTHER TAXES|PART 11 - CORPORATION TAX LAW|CHAPTER 7 - Net Income|ARTICLE 3 - Items Not Deductible|Section 24442.

24442.  In the case of the demolition of any structure—(1) No deduction otherwise allowable under this part shall be allowed to the owner or lessee of such structure for—(A) Any amount expended for such demolition, or(B) Any loss sustained on account of such demolition; and(2) Amounts described in paragraph (1) shall be treated as property chargeable to capital account with respect to the land on which the demolished structure was located.(Amended by Stats. 1985, Ch. 1461, Sec. 114. Effective October 1, 1985.)