reglab/housing_qa huggingface dataset:
CA Rev & Tax Code § 23457 (2021)
2021 California Code|Revenue and Taxation Code - RTC|DIVISION 2 - OTHER TAXES|PART 11 - CORPORATION TAX LAW|CHAPTER 2.5 - Alternative Minimum Tax|Section 23457.

23457.  For purposes of this part, Section 57 of the Internal Revenue Code is modified as follows:(a) Section 57(a)(5) of the Internal Revenue Code, relating to tax-exempt interest, shall not be applicable.(b) Section 57(a)(6) of the Internal Revenue Code, relating to accelerated depreciation or amortization on certain property placed in service before January 1, 1987, is modified to read: With respect to each property as described in Section 1250(c) of the Internal Revenue Code as that provision read on April 1, 1970, the amount by which the deduction allowable for the taxable year for exhaustion, wear, tear, obsolescence, or amortization exceeds the depreciation deduction that would have been allowable for the taxable year, had the taxpayer depreciated the property under the straight line method for each taxable year of its useful life (determined without regard to Section 24354.2 or 24381) for which the taxpayer has held the property.(Amended by Stats. 2002, Ch. 488, Sec. 8.5. Effective September 12, 2002.)
CA Rev & Tax Code § 23459 (2021)
2021 California Code|Revenue and Taxation Code - RTC|DIVISION 2 - OTHER TAXES|PART 11 - CORPORATION TAX LAW|CHAPTER 2.5 - Alternative Minimum Tax|Section 23459.

23459.  For purposes of this part, the provisions of Section 59 of the Internal Revenue Code are modified as follows:(a) Section 59(a) of the Internal Revenue Code, relating to the alternative minimum tax foreign tax credit, shall not be applicable. (b) Section 59(b) of the Internal Revenue Code, relating to income eligible for the credit under Section 936 of the Internal Revenue Code, shall not be applicable. (c) Subparagraphs (A), (B), and (C) of Section 59(e)(2) of the Internal Revenue Code, relating to qualified expenditures, are modified to refer to: (1) Section 24364, in lieu of the deduction under Section 173 of the Internal Revenue Code. (2) Section 24423, in lieu of the deduction under Section 263(c) of the Internal Revenue Code.(Amended by Stats. 1991, Ch. 117, Sec. 50. Effective July 16, 1991.)
CA Rev & Tax Code § 23604 (2021)
2021 California Code|Revenue and Taxation Code - RTC|DIVISION 2 - OTHER TAXES|PART 11 - CORPORATION TAX LAW|CHAPTER 3.5 - Tax Credits|Section 23604.

23604.  For each taxable year beginning on or after January 1, 1996, there shall be allowed as a credit against the “tax” (as defined by Section 23036) an amount determined as follows:(a) (1) (A) The amount of the credit shall be equal to one-third of the federal credit computed in accordance with Section 43 of the Internal Revenue Code.(B) If a taxpayer elects, under Section 43(e) of the Internal Revenue Code, not to apply Section 43 for federal tax purposes, this election is binding and irrevocable for state purposes, and for purposes of subparagraph (A), the federal credit shall be zero.(2) “Qualified enhanced oil recovery project” shall include only projects located within California.(3) The credit allowed under this subdivision shall not be allowed to any taxpayer for whom a depletion allowance is not permitted to be computed under Section 613 of the Internal Revenue Code by reason of paragraphs (2), (3), or (4) of subsection (d) of Section 613A of the Internal Revenue Code.(b) Section 43(d) of the Internal Revenue Code shall apply.(c) In the case where the credit allowed by this section exceeds the “tax,” the excess may be carried over to reduce the “tax” for the succeeding 15 years.(d) In the case where property which qualifies as part of the taxpayer’s “qualified enhanced oil recovery costs” also qualifies for a credit under any other section in this part, the taxpayer shall make an election on its original return as to which section applies to all costs allocable to that item of qualified property. Any election made under this section, and any specification contained in that election, may not be revoked except with the consent of the Franchise Tax Board.(e) No deduction shall be allowed as otherwise provided in this part for that portion of any costs paid or incurred for the taxable year which is equal to the amount of the credit allowed under this section attributable to those costs.(f) The basis of any property for which a credit is allowed under this section shall be reduced by the amount of the credit attributable to the property. The basis adjustment shall be made for the taxable year for which the credit is allowed.(g) No credit may be claimed under this section with respect to any amount for which any other credit has been claimed under this part.(Amended by Stats. 2000, Ch. 862, Sec. 67. Effective January 1, 2001.)
CA Rev & Tax Code § 23608 (2021)
2021 California Code|Revenue and Taxation Code - RTC|DIVISION 2 - OTHER TAXES|PART 11 - CORPORATION TAX LAW|CHAPTER 3.5 - Tax Credits|Section 23608.

23608.  (a) In the case of a taxpayer who transports any agricultural product donated in accordance with Chapter 5 (commencing with Section 58501) of Part 1 of Division 21 of the Food and Agricultural Code, for taxable years beginning on or after January 1, 1996, there shall be allowed as a credit against the “tax” (as defined by Section 23036), an amount equal to 50 percent of the transportation costs paid or incurred by the taxpayer in connection with the transportation of that donated agricultural product.(b) If two or more taxpayers share in the expenses eligible for the credit provided by this section, each taxpayer shall be eligible to receive the tax credit in proportion to its respective share of the expenses paid or incurred.(c) If any credit allowed by this section is claimed by the taxpayer, any deduction otherwise allowed under this part for that amount of the cost paid or incurred by the taxpayer which is eligible for the credit that is claimed shall be reduced by the amount of the credit allowed.(d) Upon delivery of the donated agricultural product by a taxpayer authorized to claim a credit pursuant to subdivision (a), the nonprofit charitable organization shall provide a certificate to the taxpayer who transported the agricultural product. The certificate shall contain a statement signed and dated by a person authorized by that organization that the product is donated under Chapter 5 (commencing with Section 58501) of Part 1 of Division 21 of the Food and Agricultural Code. The certificate shall also contain the following information: the type and quantity of product donated, the distance transported, the name of the transporter, the name of the taxpayer donor, and the name and address of the donee. Upon the request of the Franchise Tax Board, the taxpayer shall provide a copy of the certification to the Franchise Tax Board.(e) In the case where any credit allowed by this section exceeds the “tax,” the excess may be carried over to reduce the “tax” in the following year, and succeeding years if necessary, until the credit is exhausted.(Amended by Stats. 2000, Ch. 862, Sec. 68. Effective January 1, 2001.)
CA Rev & Tax Code § 23610.4 (2021)
2021 California Code|Revenue and Taxation Code - RTC|DIVISION 2 - OTHER TAXES|PART 11 - CORPORATION TAX LAW|CHAPTER 3.5 - Tax Credits|Section 23610.4.

23610.4.  It is the intent of the Legislature that the amount of the state low-income housing tax credit allocated to a project pursuant to Section 23610.5 shall not exceed an amount in addition to the federal tax credit that is necessary for the financial feasibility of the project and its viability throughout the extended use period.(Amended (as added by Stats. 1990, Ch. 166) by Stats. 1990, Ch. 1349, Sec. 19.3. Effective September 26, 1990.)
CA Rev & Tax Code § 23624 (2021)
2021 California Code|Revenue and Taxation Code - RTC|DIVISION 2 - OTHER TAXES|PART 11 - CORPORATION TAX LAW|CHAPTER 3.5 - Tax Credits|Section 23624.

23624.  (a) There shall be allowed as a credit against the “tax” (as defined by Section 23036) an amount equal to 10 percent of the amount of wages paid or incurred during the taxable year to each prisoner who is employed in a joint venture program established pursuant to Article 1.5 of Chapter 5 of Title 1 of Part 3 of the Penal Code, through agreement with the Director of Corrections.(b) The Department of Corrections shall forward annually to the Franchise Tax Board a list of all employers certified by the Department of Corrections as active participants in a joint venture program pursuant to Article 1.5 (commencing with Section 2717.1) of Chapter 5 of Title 1 of Part 3 of the Penal Code. The list shall include the certified participant’s federal employer identification number.(Amended by Stats. 2000, Ch. 862, Sec. 80. Effective January 1, 2001. Note: This section was added on Nov. 6, 1990, by initiative Prop. 139 (the Prison Inmate Labor Initiative of 1990).)
CA Rev & Tax Code § 23630 (2021)
2021 California Code|Revenue and Taxation Code - RTC|DIVISION 2 - OTHER TAXES|PART 11 - CORPORATION TAX LAW|CHAPTER 3.5 - Tax Credits|Section 23630.

23630.  (a) There shall be allowed as a credit against the “tax,” as defined in Section 23036, an amount equal to 55 percent of the fair market value of any qualified contribution made on or after January 1, 2000, and not later than June 30, 2008, on or after January 1, 2010, and not later than June 30, 2020, and on or after January 1, 2021, and not later than June 30, 2026, by the taxpayer during the taxable year to the state, any local government, or any designated nonprofit organization, pursuant to Division 28 (commencing with Section 37000) of the Public Resources Code.(b) For purposes of this section, “qualified contribution” means a contribution of property, as defined in Section 37002 of the Public Resources Code, that has been approved for acceptance by the Wildlife Conservation Board pursuant to Division 28 (commencing with Section 37000) of the Public Resources Code.(c) In the case of any pass-thru entity, the fair market value of any qualified contribution approved for acceptance under Division 28 (commencing with Section 37000) of the Public Resources Code shall be passed through to the partners or shareholders of the pass-thru entity in accordance with their interest in the pass-thru entity as of the date of the qualified contribution. For purposes of this subdivision, the term “pass-thru entity” means any partnership or “S” corporation.(d) (1) For a qualified contribution made on or after January 1, 2000, and before January 1, 2015, if the credit allowed by this section exceeds the “tax,” the excess may be carried over to reduce the “tax” in the following year, and the succeeding seven years if necessary, until the credit is exhausted.(2) For a qualified contribution made on or after January 1, 2015, if the credit allowed by this section exceeds the “tax,” the excess may be carried over to reduce the “tax” in the following year, and the succeeding 14 years if necessary, until the credit is exhausted.(e) This credit shall be in lieu of any other credit or deduction that the taxpayer may otherwise claim pursuant to this part with respect to the property or any interest therein that is contributed.(Amended by Stats. 2021, Ch. 419, Sec. 2. (AB 1219) Effective September 30, 2021.)
CA Rev & Tax Code § 23642 (2021)
2021 California Code|Revenue and Taxation Code - RTC|DIVISION 2 - OTHER TAXES|PART 11 - CORPORATION TAX LAW|CHAPTER 3.5 - Tax Credits|Section 23642.

23642.  (a) For each taxable year beginning on or after January 1, 1996, there shall be allowed as a credit against the “tax,” as defined in Section 23036, the amount paid or incurred for eligible access expenditures. The credit shall be allowed in accordance with Section 44 of the Internal Revenue Code, relating to expenditures to provide access to disabled individuals, except that the credit amount specified in subdivision (b) shall be substituted for the credit amount specified in Section 44(a) of the Internal Revenue Code.(b) The credit amount allowed under this section shall be 50 percent of so much of the eligible access expenditures for the taxable year as do not exceed two hundred fifty dollars ($250).(c) In the case where the credit allowed by this section exceeds the “tax,” the excess may be carried over to reduce the “tax” in the following year, and succeeding years if necessary, until the credit is exhausted.(Amended by Stats. 2000, Ch. 862, Sec. 85. Effective January 1, 2001.)
CA Rev & Tax Code § 23687 (2021)
2021 California Code|Revenue and Taxation Code - RTC|DIVISION 2 - OTHER TAXES|PART 11 - CORPORATION TAX LAW|CHAPTER 3.5 - Tax Credits|Section 23687.

23687.  (a) For taxable years beginning on or after January 1, 2017, and before January 1, 2023, there shall be allowed as a credit against the “tax,” as defined in Section 23036, an amount equal to 50 percent of the amount contributed by the taxpayer for the taxable year to the College Access Tax Credit Fund, as allocated and certified by the California Educational Facilities Authority.(b) (1) The aggregate amount of credit that may be allocated and certified pursuant to this section, Section 12207, and Section 17053.87 shall be an amount equal to five hundred million dollars ($500,000,000).(2) (A) For the purposes of this section, the California Educational Facilities Authority shall do all of the following:(i) On a first-come-first-served basis, allocate and certify tax credits to taxpayers under this section.(ii) Establish a procedure for taxpayers to contribute to the College Access Tax Credit Fund and to obtain from the California Educational Facilities Authority a certification for the credit allowed by this section. The procedure shall require the California Educational Facilities Authority to certify the contribution amount eligible for credit within 45 days following receipt of the contribution.(iii) Provide to the Franchise Tax Board a copy of each credit certificate issued for the calendar year by March 1 of the calendar year immediately following the year in which those certificates are issued.(B) (i) The California Educational Facilities Authority shall adopt any regulations necessary or appropriate to implement this paragraph.(ii) The Administrative Procedure Act (Chapter 3.5 (commencing with Section 11340) of Part 1 of Division 3 of Title 2 of the Government Code) shall not apply to any regulation adopted by the California Educational Facilities Authority pursuant to clause (i).(c) (1) In the case where the credit allowed by this section exceeds the “tax,” the excess may be carried over to reduce the “tax” in the following year, and succeeding five years if necessary, until the credit is exhausted.(2) A deduction shall not be allowed under this part for amounts taken into account under this section in calculating the credit allowed by this section.(d) The tax credit allowed by subdivision (a), subdivision (a) of Section 12207, and subdivision (a) of Section 17053.87 for donations to the College Access Tax Credit Fund shall be known as the College Access Tax Credit.(e) This section shall remain in effect only until December 1, 2023, and as of that date is repealed.(Amended by Stats. 2017, Ch. 527, Sec. 3. (AB 490) Effective January 1, 2018. Repealed as of December 1, 2023, by its own provisions.)
CA Rev & Tax Code § 23800 (2021)
2021 California Code|Revenue and Taxation Code - RTC|DIVISION 2 - OTHER TAXES|PART 11 - CORPORATION TAX LAW|CHAPTER 4.5 - Tax Treatment of S Corporations and Their Shareholders|Section 23800.

23800.  Subchapter S of Chapter 1 of Subtitle A of the Internal Revenue Code, relating to the tax treatment of “S corporations” and their shareholders, shall apply, except as otherwise provided.(Amended by Stats. 2003, Ch. 268, Sec. 4. Effective January 1, 2004.)
CA Rev & Tax Code § 23802.5 (2021)
2021 California Code|Revenue and Taxation Code - RTC|DIVISION 2 - OTHER TAXES|PART 11 - CORPORATION TAX LAW|CHAPTER 4.5 - Tax Treatment of S Corporations and Their Shareholders|Section 23802.5.

23802.5.  (a) Section 1366(a)(1) of the Internal Revenue Code, relating to determination of shareholder’s tax liability, is modified to apply to the final taxable year of a trust or estate that terminates before the end of the corporation’s taxable year.(b) Section 1366(d)(1)(A) of the Internal Revenue Code, relating to losses and deductions that cannot exceed shareholder’s basis in stock and debt, is modified to additionally provide that the adjusted basis of a shareholder’s stock in the “S corporation” is to be decreased by distributions by the corporation that were not includable in the income of the shareholder by reason of Section 1368 of the Internal Revenue Code.(c) Section 1366(d)(3) of the Internal Revenue Code, relating to carryover of disallowed losses and deductions to post-termination transition period, is modified to provide that to the extent that any increase in adjusted basis described in Section 1366(d)(3)(B) of the Internal Revenue Code would have increased the shareholder’s amount at risk under Section 465 if the increase had occurred on the day preceding the commencement of the post-termination transition period, rules similar to the rules described in Section 1366(d)(3)(A) to (C), inclusive, of the Internal Revenue Code shall apply to any losses disallowed by reason of Section 465(a) of the Internal Revenue Code.(Amended by Stats. 2003, Ch. 268, Sec. 8. Effective January 1, 2004.)
CA Rev & Tax Code § 23803 (2021)
2021 California Code|Revenue and Taxation Code - RTC|DIVISION 2 - OTHER TAXES|PART 11 - CORPORATION TAX LAW|CHAPTER 4.5 - Tax Treatment of S Corporations and Their Shareholders|Section 23803.

23803.  (a) With respect to credits that are otherwise allowed to reduce the taxes imposed under this part:(1) The amount of any credit to be claimed shall be limited to one-third of the amount otherwise allowable.(2) (A) Any unused portion of the credit allowable under paragraph (1) (one-third of the total credit) shall be allowed to be carried forward and may not be subject to additional reductions under paragraph (1) in later years.(B) No carryforward shall be allowed for the portion of the credit denied under paragraph (1) (two-thirds of the total credit).(C) Credits carried forward from taxable years beginning prior to the first taxable year in which the corporation is treated as an “S corporation” under this part, shall be reduced in accordance with paragraph (1) for that first taxable year and may not be subject to additional reductions under paragraph (1) in later years.(D) The provisions of paragraphs (2) and (3) of subdivision (f) of Section 23802 shall be applied prior to the reduction required by paragraph (1).(E) No portion of any credit to which this subdivision applies shall be passed through to the shareholders of the “S corporation.”(F) The provisions of this subdivision do not affect the amount of any credit computed under Part 10 (commencing with Section 17001) for pass through to shareholders in accordance with the provisions of Section 1366 of the Internal Revenue Code.(b) Section 1366(f) of the Internal Revenue Code, relating to special rules, shall be modified as follows:(1) The amount of tax used to compute the loss allowed by Section 1366(f)(2) shall be the amount of tax imposed on built-in gains under this part.(2) The amount of tax used to compute the reduction allowed by Section 1366(f)(3) shall be the amount of tax imposed on excess net passive income under this part.(Amended by Stats. 2003, Ch. 268, Sec. 9. Effective January 1, 2004.)
CA Rev & Tax Code § 23804 (2021)
2021 California Code|Revenue and Taxation Code - RTC|DIVISION 2 - OTHER TAXES|PART 11 - CORPORATION TAX LAW|CHAPTER 4.5 - Tax Treatment of S Corporations and Their Shareholders|Section 23804.

23804.  Section 1367(b)(4) of the Internal Revenue Code, relating to adjustments in case of inherited stock, shall apply for decedents dying after December 31, 1996.(Amended by Stats. 2003, Ch. 268, Sec. 10. Effective January 1, 2004.)
CA Rev & Tax Code § 23806 (2021)
2021 California Code|Revenue and Taxation Code - RTC|DIVISION 2 - OTHER TAXES|PART 11 - CORPORATION TAX LAW|CHAPTER 4.5 - Tax Treatment of S Corporations and Their Shareholders|Section 23806.

23806.  (a) Section 1371(a) of the Internal Revenue Code, relating to application of Subchapter C rules, is modified to provide that, notwithstanding subdivisions (a) and (e) of Sections 17024.5 and 23051.5, any election by an “S corporation” or its shareholders under Section 338 of the Internal Revenue Code, relating to certain stock purchases treated as asset acquisitions, for federal purposes shall be treated as an election for purposes of this part and a separate election under paragraph (3) of subdivision (e) of Section 17024.5 or 23051.5 shall not be allowed.(b) No election under Section 338 of the Internal Revenue Code, relating to certain stock purchases treated as asset acquisitions, shall be allowed for state purposes unless the “S corporation” or its shareholders made a valid election for federal purposes under Section 338 of the Internal Revenue Code.(c) Section 1371 (d) of the Internal Revenue Code shall not apply.(d) (1) Subdivisions (a) and (b) shall apply to any transaction occurring on or after January 1, 1998, in a taxable year beginning on or after January 1, 1997.(2) Subdivision (c) shall apply to taxable years beginning on or after January 1, 1997.(Amended by Stats. 2000, Ch. 862, Sec. 111. Effective January 1, 2001.)
CA Rev & Tax Code § 23807 (2021)
2021 California Code|Revenue and Taxation Code - RTC|DIVISION 2 - OTHER TAXES|PART 11 - CORPORATION TAX LAW|CHAPTER 4.5 - Tax Treatment of S Corporations and Their Shareholders|Section 23807.

23807.  Section 1372 of the Internal Revenue Code shall be modified so that references to partnership treatment shall be to Internal Revenue Code partnership provisions, as modified by Part 10 (commencing with Section 17001).(Added by Stats. 1987, Ch. 1139, Sec. 55. 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 § 23808 (2021)
2021 California Code|Revenue and Taxation Code - RTC|DIVISION 2 - OTHER TAXES|PART 11 - CORPORATION TAX LAW|CHAPTER 4.5 - Tax Treatment of S Corporations and Their Shareholders|Section 23808.

23808.  Sections 1373 and 1379 of the Internal Revenue Code shall not be applicable.(Amended by Stats. 1988, Ch. 11, Sec. 64. Effective February 19, 1988. Applicable to income years beginning on or after January 1, 1988, by Sec. 93 of Ch. 11.)