reglab/housing_qa huggingface dataset:
CA Rev & Tax Code § 24962 (2021)
2021 California Code|Revenue and Taxation Code - RTC|DIVISION 2 - OTHER TAXES|PART 11 - CORPORATION TAX LAW|CHAPTER 15 - Gain or Loss on Disposition of Property|ARTICLE 4 - Special Rules for Basis|Section 24962.

24962.  (a) If the property was acquired, after February 28, 1913, in any income year beginning before January 1, 1934, and the basis thereof, for purposes of the Revenue Act of 1932 was prescribed by Section 113(a) (6), (7), or (9) of such act (47 Stat. 199), then for purposes of this part the basis shall be the same as the basis therein prescribed in the Revenue Act of 1932.(b) If the property was acquired, after February 28, 1913, in any income year beginning before January 1, 1937, and the basis thereof, for purposes of the Revenue Act of 1934, was prescribed by Section 113(a) (6), (7), or (8) of such act (48 Stat. 706), then for purposes of this part the basis shall be the same as the basis therein prescribed in the Revenue Act of 1934.(c) If the property was acquired after February 28, 1913, in a transaction to which the Bank and Corporation Tax Law of 1954 applied, and the basis thereof, for purposes of the Bank and Corporation Tax Law of 1954, was prescribed by Section 25071(d), 25071(e), or 25071(f) of such law, then for purposes of this part the basis shall be the same as the basis therein prescribed in the Bank and Corporation Tax Law of 1954.(d) Stock rights acquired after February 28, 1913, and before January 1, 1955, shall have the basis assigned to such property under Section 25071m of the Bank and Corporation Tax Law of 1954.(Amended by Stats. 1957, Ch. 544.)
CA Rev & Tax Code § 24963 (2021)
2021 California Code|Revenue and Taxation Code - RTC|DIVISION 2 - OTHER TAXES|PART 11 - CORPORATION TAX LAW|CHAPTER 15 - Gain or Loss on Disposition of Property|ARTICLE 4 - Special Rules for Basis|Section 24963.

24963.  In the case of property acquired before March 1, 1913, if the basis otherwise determined under this part, adjusted (for the period before March 1, 1913) as provided in Section 24916, is less than the fair market value of the property as of March 1, 1913, then the basis for determining gain shall be such fair market value. In determining the fair market value of stock in a corporation as of March 1, 1913, due regard shall be given to the fair market value of the assets of the corporation as of that date.(Added by Stats. 1955, Ch. 938.)
CA Rev & Tax Code § 24964 (2021)
2021 California Code|Revenue and Taxation Code - RTC|DIVISION 2 - OTHER TAXES|PART 11 - CORPORATION TAX LAW|CHAPTER 15 - Gain or Loss on Disposition of Property|ARTICLE 4 - Special Rules for Basis|Section 24964.

24964.  Whenever a taxpayer has realized gain or loss upon the receipt after January 1, 1928, at a time when it was subject to a tax under this part, of all or substantially all of the business or property of a taxpayer over which it exercised control within the meaning of Section 24564, and such gain or loss actually was not taken into account in the computation of taxes imposed by this part, the basis of the property or business acquired shall be the same as it was in the hands of the transferor.(Added by Stats. 1955, Ch. 938.)
CA Rev & Tax Code § 24965 (2021)
2021 California Code|Revenue and Taxation Code - RTC|DIVISION 2 - OTHER TAXES|PART 11 - CORPORATION TAX LAW|CHAPTER 15 - Gain or Loss on Disposition of Property|ARTICLE 4 - Special Rules for Basis|Section 24965.

24965.  In the case of a share of stock issued pursuant to Section 303(c) of the Federal National Mortgage Association Charter Act (12 U.S.C., Sec. 1718), the basis of such share in the hands of the initial holder shall be an amount equal to the capital contributions evidenced by such share reduced by the amount (if any) required by Section 24343(d) to be treated (with respect to such share) as ordinary and necessary expenses paid or incurred in carrying on a trade or business.(Added by Stats. 1961, Ch. 846.)
CA Rev & Tax Code § 24966 (2021)
2021 California Code|Revenue and Taxation Code - RTC|DIVISION 2 - OTHER TAXES|PART 11 - CORPORATION TAX LAW|CHAPTER 15 - Gain or Loss on Disposition of Property|ARTICLE 4 - Special Rules for Basis|Section 24966.

24966.  (a) The basis in stock purchased shall be reduced by the nontaxed portion of any extraordinary dividend received as provided in Section 1059 of the Internal Revenue Code, except as otherwise provided in this section.(b) The reduction described in Section 1059(b)(2)(B) of the Internal Revenue Code shall be the amount determined under Section 24402.(c) Reference to Section 301 of the Internal Revenue Code shall be reference to Sections 24451 to 24454, inclusive.(d) Reference to Section 301(b)(2) of the Internal Revenue Code shall be reference to subdivision (b) of Section 24452.(e) Reference to Section 301(c)(2) of the Internal Revenue Code shall be reference to subdivision (b) of Section 24453.(Amended by Stats. 1990, Ch. 1349, Sec. 34.3. Effective September 26, 1990.)
CA Rev & Tax Code § 24966.1 (2021)
2021 California Code|Revenue and Taxation Code - RTC|DIVISION 2 - OTHER TAXES|PART 11 - CORPORATION TAX LAW|CHAPTER 15 - Gain or Loss on Disposition of Property|ARTICLE 4 - Special Rules for Basis|Section 24966.1.

24966.1.  Section 1059A of the Internal Revenue Code, relating to limitation on taxpayer’s basis or inventory cost in property imported from related persons, shall apply, except as otherwise provided.(Amended by Stats. 1993, Ch. 877, Sec. 85. Effective October 6, 1993.)
CA Rev & Tax Code § 24966.2 (2021)
2021 California Code|Revenue and Taxation Code - RTC|DIVISION 2 - OTHER TAXES|PART 11 - CORPORATION TAX LAW|CHAPTER 15 - Gain or Loss on Disposition of Property|ARTICLE 4 - Special Rules for Basis|Section 24966.2.

24966.2.  Section 1060 of the Internal Revenue Code, relating to special allocation rules for certain asset acquisitions, shall apply, except as otherwise provided.(Amended by Stats. 1993, Ch. 877, Sec. 86. Effective October 6, 1993.)
CA Rev & Tax Code § 24990 (2021)
2021 California Code|Revenue and Taxation Code - RTC|DIVISION 2 - OTHER TAXES|PART 11 - CORPORATION TAX LAW|CHAPTER 15 - Gain or Loss on Disposition of Property|ARTICLE 4.5 - Capital Gains and Losses|Section 24990.

24990.  Subchapter P of Chapter 1 of Subtitle A of the Internal Revenue Code, relating to capital gains and losses, shall apply, except as otherwise provided.(Amended by Stats. 1993, Ch. 873, Sec. 47. Effective October 6, 1993.)
CA Rev & Tax Code § 24990.2 (2021)
2021 California Code|Revenue and Taxation Code - RTC|DIVISION 2 - OTHER TAXES|PART 11 - CORPORATION TAX LAW|CHAPTER 15 - Gain or Loss on Disposition of Property|ARTICLE 4.5 - Capital Gains and Losses|Section 24990.2.

24990.2.  Section 301 of Title III of Division A of the Emergency Economic Stabilization Act of 2008 (Public Law 110-343), relating to gain or loss from sale of certain preferred stock, shall not apply.(Added by Stats. 2010, Ch. 14, Sec. 82. (SB 401) Effective January 1, 2011.)
CA Rev & Tax Code § 24990.4 (2021)
2021 California Code|Revenue and Taxation Code - RTC|DIVISION 2 - OTHER TAXES|PART 11 - CORPORATION TAX LAW|CHAPTER 15 - Gain or Loss on Disposition of Property|ARTICLE 4.5 - Capital Gains and Losses|Section 24990.4.

24990.4.  For taxable years beginning on or after January 1, 1997:(a) Section 1237(a) of the Internal Revenue Code, relating to real property subdivided for sale, is modified to provide that the term “other than a corporation” in the material preceding Section 1237(a)(1) of the Internal Revenue Code shall instead mean “other than a C corporation.”(b) Section 1237(a)(2)(A) of the Internal Revenue Code, relating to real property subdivided for sale, is modified to provide that an improvement shall be deemed to be made by the taxpayer if that improvement was made by an “S corporation” that included the taxpayer as a shareholder.(Amended by Stats. 2000, Ch. 862, Sec. 211. Effective January 1, 2001.)
CA Rev & Tax Code § 24990.5 (2021)
2021 California Code|Revenue and Taxation Code - RTC|DIVISION 2 - OTHER TAXES|PART 11 - CORPORATION TAX LAW|CHAPTER 15 - Gain or Loss on Disposition of Property|ARTICLE 4.5 - Capital Gains and Losses|Section 24990.5.

24990.5.  (a) Section 1201 of the Internal Revenue Code, relating to alternative tax for corporations, shall not be applicable.(b)  The provisions of Section 1212 of the Internal Revenue Code, relating to capital loss carrybacks and carryovers, are modified as follows:(1) Section 1212(a)(1)(A) of the Internal Revenue Code, relating to capital loss carrybacks, shall not apply.(2) Section 1212(a)(4) of the Internal Revenue Code, relating to special rules on carrybacks, shall not apply.(3) Sections 1212(b) and 1212(c) of the Internal Revenue Code, relating to other taxpayers and carryback of losses from Section 1256 contracts to offset prior gains from such contracts, respectively, shall not apply.(Amended by Stats. 2015, Ch. 359, Sec. 40. (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 § 24990.6 (2021)
2021 California Code|Revenue and Taxation Code - RTC|DIVISION 2 - OTHER TAXES|PART 11 - CORPORATION TAX LAW|CHAPTER 15 - Gain or Loss on Disposition of Property|ARTICLE 4.5 - Capital Gains and Losses|Section 24990.6.

24990.6.  (a) Section 1245(a)(2)(C) of the Internal Revenue Code, relating to certain deductions treated as amortization, is modified to also refer to Sections 24356.2, 24356.3, and 24356.4.(b) Section 1245(b)(8) of the Internal Revenue Code, relating to disposition of amortizable Section 197 intangibles, shall apply to dispositions of property on or after January 1, 2010.(Amended by Stats. 2010, Ch. 14, Sec. 83. (SB 401) Effective January 1, 2011.)
CA Rev & Tax Code § 24990.7 (2021)
2021 California Code|Revenue and Taxation Code - RTC|DIVISION 2 - OTHER TAXES|PART 11 - CORPORATION TAX LAW|CHAPTER 15 - Gain or Loss on Disposition of Property|ARTICLE 4.5 - Capital Gains and Losses|Section 24990.7.

24990.7.  The provisions of Section 1248 of the Internal Revenue Code, relating to gain from certain sales or exchanges of stock in certain foreign corporations, shall not apply to transactions occurring after August 20, 1990, in taxable years beginning on or after January 1, 1990.(Amended by Stats. 2000, Ch. 862, Sec. 212. Effective January 1, 2001.)
CA Rev & Tax Code § 24990.8 (2021)
2021 California Code|Revenue and Taxation Code - RTC|DIVISION 2 - OTHER TAXES|PART 11 - CORPORATION TAX LAW|CHAPTER 15 - Gain or Loss on Disposition of Property|ARTICLE 4.5 - Capital Gains and Losses|Section 24990.8.

24990.8.  For taxable years beginning on or after January 1, 2010, specific reference to Section 1223(4) to (16), inclusive, of the Internal Revenue Code in this part shall instead be treated as a reference to Section 1223(3) to (15), inclusive, of the Internal Revenue Code, respectively.(Added by Stats. 2010, Ch. 14, Sec. 84. (SB 401) Effective January 1, 2011.)
CA Rev & Tax Code § 24991 (2021)
2021 California Code|Revenue and Taxation Code - RTC|DIVISION 2 - OTHER TAXES|PART 11 - CORPORATION TAX LAW|CHAPTER 15 - Gain or Loss on Disposition of Property|ARTICLE 4.5 - Capital Gains and Losses|Section 24991.

24991.  Section 1275(a)(3) of the Internal Revenue Code, relating to the definition of tax-exempt obligation, does not apply but instead the term “tax-exempt obligation” means an obligation the interest on which is exempt from tax under this part.(Amended by Stats. 2003, Ch. 185, Sec. 40. Effective January 1, 2004.)
CA Rev & Tax Code § 24993 (2021)
2021 California Code|Revenue and Taxation Code - RTC|DIVISION 2 - OTHER TAXES|PART 11 - CORPORATION TAX LAW|CHAPTER 15 - Gain or Loss on Disposition of Property|ARTICLE 4.5 - Capital Gains and Losses|Section 24993.

24993.  (a) Section 7872 of the Internal Revenue Code, relating to the treatment of loans with below market interest rates, shall apply, except as otherwise provided.(b) Section 7872(h) of the Internal Revenue Code, relating to exception for loans to qualified continuing care facilities, shall apply to calendar years beginning on or after January 1, 2010, with respect to loans made before, on, or after that date.(Amended by Stats. 2010, Ch. 14, Sec. 85. (SB 401) Effective January 1, 2011.)
CA Rev & Tax Code § 24995 (2021)
2021 California Code|Revenue and Taxation Code - RTC|DIVISION 2 - OTHER TAXES|PART 11 - CORPORATION TAX LAW|CHAPTER 15 - Gain or Loss on Disposition of Property|ARTICLE 4.5 - Capital Gains and Losses|Section 24995.

24995.  The provisions of Part VI of Subchapter P of Chapter 1 of Subtitle A of the Internal Revenue Code, relating to treatment of certain passive foreign investment companies, shall not be applicable.(Added by Stats. 1988, Ch. 1465, Sec. 56. Effective September 28, 1988. Applicable to income years beginning on or after January 1, 1988, by Sec. 77 of Ch. 1465.)
CA Rev & Tax Code § 24998 (2021)
2021 California Code|Revenue and Taxation Code - RTC|DIVISION 2 - OTHER TAXES|PART 11 - CORPORATION TAX LAW|CHAPTER 15 - Gain or Loss on Disposition of Property|ARTICLE 5 - Wash Sales of Stock or Securities|Section 24998.

24998.  The provisions of Sections 1091 and 1092 of the Internal Revenue Code, relating to loss from wash sales of stock or securities, and straddles, respectively, shall be applicable for purposes of this part.(Repealed and added by Stats. 1988, Ch. 11, Sec. 86. Effective February 19, 1988. Applicable to income years beginning on or after January 1, 1987, by Sec. 95 of Ch. 11.)
CA Rev & Tax Code § 25101 (2021)
2021 California Code|Revenue and Taxation Code - RTC|DIVISION 2 - OTHER TAXES|PART 11 - CORPORATION TAX LAW|CHAPTER 17 - Allocation of Income|ARTICLE 1 - General Provisions|Section 25101.

25101.  When the income of a taxpayer subject to the tax imposed under this part is derived from or attributable to sources both within and without the state the tax shall be measured by the net income derived from or attributable to sources within this state in accordance with the provisions of Article 2 (commencing with Section 25120). However, any method of apportionment shall take into account as income derived from or attributable to sources without the state, income derived from or attributable to transportation by sea or air without the state, whether or not the transportation is located in or subject to the jurisdiction of any other state, the United States or any foreign country.If the Franchise Tax Board reapportions net income upon its examination of any return, it shall, upon the written request of the taxpayer, disclose to it the basis upon which its reapportionment has been made.(Amended by Stats. 1982, Ch. 466, Sec. 104.)
CA Rev & Tax Code § 25101.1 (2021)
2021 California Code|Revenue and Taxation Code - RTC|DIVISION 2 - OTHER TAXES|PART 11 - CORPORATION TAX LAW|CHAPTER 17 - Allocation of Income|ARTICLE 1 - General Provisions|Section 25101.1.

25101.1.  The amendments made at the 1957 Regular Session of the Legislature to Section 25101 of the Revenue and Taxation Code shall be applicable only with respect to income years beginning after December 31, 1956. The determination as to whether income derived from or attributable to transportation by sea or air is allocable to or taxable by California for any income year beginning before January 1, 1957, shall be made as if Section 25101 had not been amended at the 1957 Regular Session of the Legislature and without inferences drawn from the fact that such amendments were not expressly made applicable with respect to income years beginning before January 1, 1957.(Added by Stats. 1957, Ch. 2097.)
CA Rev & Tax Code § 25101.15 (2021)
2021 California Code|Revenue and Taxation Code - RTC|DIVISION 2 - OTHER TAXES|PART 11 - CORPORATION TAX LAW|CHAPTER 17 - Allocation of Income|ARTICLE 1 - General Provisions|Section 25101.15.

25101.15.  If the income of two or more taxpayers is derived solely from sources within this state and their business activities are such that if conducted within and without this state a combined report would be required to determine their business income derived from sources within this state, then such taxpayers shall be allowed to determine their business income in accordance with Section 25101.(Added by Stats. 1980, Ch. 390, Sec. 1. Effective July 10, 1980. Applicable to income years beginning on or after January 1, 1980, by Sec. 2 of Ch. 390.)
CA Rev & Tax Code § 25101.3 (2021)
2021 California Code|Revenue and Taxation Code - RTC|DIVISION 2 - OTHER TAXES|PART 11 - CORPORATION TAX LAW|CHAPTER 17 - Allocation of Income|ARTICLE 1 - General Provisions|Section 25101.3.

25101.3.  The property factor as it relates to the aircraft of an air carrier or foreign air carrier, as defined in Section 1150, or the operator of an air taxi, as defined in Section 1154, shall be allocated on the basis of a formula consisting of time and arrivals and departures as follows:(a) The time in state is the proportionate amount of time, both in the air and on the ground, that certificated aircraft have spent within the state during the taxable year as compared to the total time everywhere during the taxable year. This factor shall be multiplied by 75 percent.(b) Arrivals and departures is the number of arrivals in and departures from airports within the state of certificated aircraft during the taxable year as compared to the total number of arrivals in and departures from airports both within this state and elsewhere during the taxable year. This factor shall be multiplied by 25 percent.(c) The time in state factor shall be added to the arrivals and departures factor.(d) The figure produced by application of subdivision (c) equals the allocation to be applied to the original cost of property owned or rented by the taxpayer determined under the provisions of Section 25130.(e) If annual statistics for the taxpayer’s taxable year are not available, statistics for representative periods designated by the Franchise Tax Board shall be used provided that permission to do so has been granted to the taxpayer by the Franchise Tax Board.(Amended by Stats. 2000, Ch. 862, Sec. 214. Effective January 1, 2001.)
CA Rev & Tax Code § 25102 (2021)
2021 California Code|Revenue and Taxation Code - RTC|DIVISION 2 - OTHER TAXES|PART 11 - CORPORATION TAX LAW|CHAPTER 17 - Allocation of Income|ARTICLE 1 - General Provisions|Section 25102.

25102.  In the case of two or more persons, as defined in Section 19 of this code, owned or controlled directly or indirectly by the same interests, the Franchise Tax Board may permit or require the filing of a combined report and such other information as it deems necessary and is authorized to impose the tax due under this part as though the combined entire net income was that of one person, or to distribute, apportion, or allocate the gross income or deductions between or among such persons, if it determines that such consolidation, distribution, apportionment, or allocation is necessary in order to reflect the proper income of any such persons.(Amended by Stats. 1959, Ch. 273.)
CA Rev & Tax Code § 25103 (2021)
2021 California Code|Revenue and Taxation Code - RTC|DIVISION 2 - OTHER TAXES|PART 11 - CORPORATION TAX LAW|CHAPTER 17 - Allocation of Income|ARTICLE 1 - General Provisions|Section 25103.

25103.  In the case of a corporation doing business within the meaning of this part, whether under agreement or otherwise, in such manner as either directly or indirectly to benefit the members or stockholders of the corporation, or any of them, or any person or persons, directly or indirectly interested in such business, by rendering services of any nature whatsoever, or acquiring or disposing of its products or the goods or commodities in which it deals, at less than a fair price therefore, the Franchise Tax Board, in order to prevent evasion of taxes or clearly to reflect the income of such corporation, may require a report of such facts as it deems necessary, and may determine the amount which shall be deemed to be the entire net income allocable to this State of the business of such corporation for the calendar or fiscal year, and compute the tax upon such net income. In determining the entire net income the Franchise Tax Board shall have regard to the fair profits which, but for any agreement, arrangement, or understanding, might be or could have been obtained from dealing in such products, goods or commodities.(Repealed and added by Stats. 1955, Ch. 938.)
CA Rev & Tax Code § 25104 (2021)
2021 California Code|Revenue and Taxation Code - RTC|DIVISION 2 - OTHER TAXES|PART 11 - CORPORATION TAX LAW|CHAPTER 17 - Allocation of Income|ARTICLE 1 - General Provisions|Section 25104.

25104.  In the case of a corporation liable to report under this part owning or controlling, either directly or indirectly, another corporation, or other corporations, and in the case of a corporation liable to report under this part and owned or controlled, either directly or indirectly, by another corporation, the Franchise Tax Board may require a consolidated report showing the combined net income or such other facts as it deems necessary. The Franchise Tax Board is authorized and empowered, in such manner as it may determine, to assess the tax against either of the corporations whose net income is involved in the report upon the basis of the combined entire net income and such other information as it may possess, or it may adjust the tax in such other manner as it shall determine to be equitable if it determines it to be necessary in order to prevent evasion of taxes or to clearly reflect the net income earned by said corporation or corporations from business done in this State.(Added by Stats. 1955, Ch. 938.)
CA Rev & Tax Code § 25106 (2021)
2021 California Code|Revenue and Taxation Code - RTC|DIVISION 2 - OTHER TAXES|PART 11 - CORPORATION TAX LAW|CHAPTER 17 - Allocation of Income|ARTICLE 1 - General Provisions|Section 25106.

25106.  (a) (1) In any case in which the income of a corporation is or has been determined under this chapter with reference to the income and apportionment factors of one or more other corporations with which it is doing or has done a unitary business, all dividends paid by one to another of any of those corporations shall, to the extent those dividends are paid out of the income previously described of the unitary business, be eliminated from the income of the recipient and, except for purposes of applying Section 24345, shall not be taken into account under Section 24344 or in any other manner in determining the tax of any member of the unitary group.(2) (A) For purposes of this section, the dividends described in paragraph (1) include dividends paid out of the income previously described of the unitary business by a member of the unitary group to a corporation formed subsequent to the accrual of the income, if the recipient corporation was part of the unitary group during the period from its formation to its receipt of those dividends.(B) The Franchise Tax Board may deny any dividend elimination for the dividends described in this paragraph if the board determines that a transaction is entered into or structured with a principal purpose of evading the tax imposed by this part.(3) For purposes of this section, “income previously described of the unitary business” shall include income earned by members of the unitary group during taxable years when no member of the unitary group was taxable in this state to the extent that the income of the unitary group would have been determined under this chapter had any member of the corporation’s unitary group been subject to tax in this state at the time that income was earned.(b) The Franchise Tax Board may prescribe any regulations that may be necessary or appropriate to carry out the purpose of this section, which is to prevent taxation of dividends received by a member of a unitary group where those dividends were paid from the income previously described of the unitary business by another member of the same unitary group.(Amended by Stats. 2008, Ch. 305, Sec. 10. Effective January 1, 2009. Note: See Sec. 14 of Ch. 305.)