reglab/statecodes huggingface dataset:
California Code of Regulations › Title 18 - Public Revenues › Division 3 - Franchise Tax Board › Chapter 3.5 - Bank and Corporation Tax › Subchapter 7 - Net Income › Article 1 - Deductions › Section 24365-24368(a) - Research and Experimental Expenditures; in General

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Sections
						24365 to
						24368, inclusive, provide two
						methods for treating research or experimental expenditures paid or incurred by
						the taxpayer in connection with its trade or business. These expenditures may
						be treated as expenses not chargeable to capital account and deducted in the
						year in which they are paid or incurred (see Reg. 24365-24368(c)), or they may
						be deferred and amortized (see Reg. 24365-24368(d)). Research or experimental
						expenditures which are neither treated as expenses nor deferred and amortized
						under Sections
						24365 to
						24368, inclusive, must be charged
						to capital account. The expenditures to which Sections
						24365 to
						24368, inclusive, apply may relate
						either to a general research program or to a particular project. See Reg.
						24365-24368(b) for the definition of research and experimental expenditures.
						The term "paid or incurred," as used in Sections
						24365 to
						24368, inclusive, and in Regs.
						24365-24368(a) to 24365-24368(d), inclusive, is to be construed according to
						the method of accounting used by the taxpayer in computing net income. See
						Section 23033.
1. New
						Section filed 1-6-69; effective thirtieth day thereafter (Register 69, No.
						2).[FN*]
This regulation is substantially the same as Section
						26 CFR
						1.174-1.
California Code of Regulations › Title 18 - Public Revenues › Division 3 - Franchise Tax Board › Chapter 3.5 - Bank and Corporation Tax › Subchapter 7 - Net Income › Article 1 - Deductions › Section 24369(a) - Soil and Water Conservation Expenditures

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
In General. Under Section
						24369, a taxpayer engaged in
						farming may deduct its soil or water conservation expenditures which do not
						give rise to a deduction for depreciation and which are not otherwise
						deductible.
Section
						24369 permits a deduction of soil
						and water conservation expenditures without limitation as to amount. This
						differs from Federal law, which limits such expenses to 25 percent of the
						taxpayer's gross income from farming. Also, since such expenses are fully
						deductible, there can be no excess carried over and deducted in succeeding
						income years. If a taxpayer does not adopt this method, such expenditures
						increase the basis of the property to which they relate.
1. New
						Reg. 24369(a) filed 12-14-64; effective thirtieth day thereafter (Register 64,
						No. 25).[FN*]
Except for the deletion of the percentage limitations
						this regulation is substantially the same as Section
						26 CFR
						1.175-1.
California Code of Regulations › Title 18 - Public Revenues › Division 3 - Franchise Tax Board › Chapter 3.5 - Bank and Corporation Tax › Subchapter 7 - Net Income › Article 1 - Deductions › Section 24369(b) - Definition of Soil and Water Conservation Expenditures. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. New
						Reg. 24369(b) filed 12-14-64; effective thirtieth day thereafter (Register 64,
						No. 25).
2. Repealer filed 9-3-82; effective thirtieth day
						thereafter (Register 82, No. 37).
Note: Authority cited and Reference: Section
						  26422,
						  Revenue and Taxation Code.
California Code of Regulations › Title 18 - Public Revenues › Division 3 - Franchise Tax Board › Chapter 3.5 - Bank and Corporation Tax › Subchapter 7 - Net Income › Article 1 - Deductions › Section 24369(c) - Definition of "the Business of Farming." [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. New
						Reg. 24369(c) filed 12-14-64; effective thirtieth day thereafter (Register 64,
						No. 25).
2. Repealer filed 9-3-82; effective thirtieth day
						thereafter (Register 82, No. 37).
Note: Authority cited and Reference: Section
						  26422,
						  Revenue and Taxation Code.
California Code of Regulations › Title 18 - Public Revenues › Division 3 - Franchise Tax Board › Chapter 3.5 - Bank and Corporation Tax › Subchapter 7 - Net Income › Article 1 - Deductions › Section 24369(d) - Definition of "Land Used in Farming." [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. New
						Reg. 24369(d) filed 12-14-64; effective thirtieth day thereafter (Register 64,
						No. 25).
2. Repealer filed 9-3-82; effective thirtieth day
						thereafter (Register 82, No. 37).
Note: Authority cited and Reference: Section
						  26422,
						  Revenue and Taxation Code.
California Code of Regulations › Title 18 - Public Revenues › Division 3 - Franchise Tax Board › Chapter 3.5 - Bank and Corporation Tax › Subchapter 7 - Net Income › Article 1 - Deductions › Section 24369(e) - Adoption or Change in Method. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. New
						Reg. 24369(e) filed 12-14-64; effective thirtieth day thereafter (Register 64,
						No. 25).
2. Repealer filed 9-3-82; effective thirtieth day
						thereafter (Register 82, No. 37).
Note: Authority cited and Reference: Section
						  26422,
						  Revenue and Taxation Code.
California Code of Regulations › Title 18 - Public Revenues › Division 3 - Franchise Tax Board › Chapter 3.5 - Bank and Corporation Tax › Subchapter 7 - Net Income › Article 1 - Deductions › Section 24377(a) - Expenditures by Farmers for Fertilizer, Etc

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(1) In General. A taxpayer engaged in the
					 business of farming may elect, for any income year beginning after December 31,
					 1960, to treat as deductible expenses those expenditures otherwise chargeable
					 to capital account which are paid or incurred by it during the income year for
					 the purchase or acquisition of fertilizer, lime, ground limestone, marl, or
					 other materials to enrich, neutralize, or condition land used in farming, and
					 those expenditures otherwise chargeable to capital account paid or incurred for
					 the application of such items and materials to such land. No election is
					 required to be made for those expenditures which are not capital in nature.
					 Section 24377, Reg. 24377(b), and this
					 regulation are not applicable to those expenses which are deductible under
					 Section 24343 and the regulations
					 thereunder or which are subject to the method described in Section
					 24369.
(2) Land Used in Farming. For purposes of
					 Section 24377(a) and of
					 subsection (1) of this regulation, the term "land used in farming" means land
					 used (before or simultaneously with the expenditures described in such section
					 and such subsection) by the taxpayer or its tenant for the production of crops,
					 fruits, or other agricultural products or for the sustenance of livestock. See
					 Section 24377(b).
					 Expenditures for the initial preparation of land never previously used for
					 farming purposes by the taxpayer or its tenant (although chargeable to capital
					 account) are not subject to the election. The principles stated in Regs.
					 24369(c) and 24369(d) are equally applicable under this regulation in
					 determining whether the taxpayer is engaged in the business of farming and
					 whether the land is used in farming.
1. New
						section filed 1-6-69; effective thirtieth day thereafter (Register 69, No.
						2).[FN*]
This regulation is substantially the same as Section
						26 CFR
						1.180-2.
California Code of Regulations › Title 18 - Public Revenues › Division 3 - Franchise Tax Board › Chapter 3.5 - Bank and Corporation Tax › Subchapter 7 - Net Income › Article 1 - Deductions › Section 24377(b) - Time and Manner of Making Election and Revocation

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(1) Election. The claiming of a deduction on
					 the taxpayer's return for an amount to which Section
					 24377 applies for amounts
					 (otherwise chargeable to capital account) expended for fertilizer, lime, etc.,
					 shall constitute an election under Section
					 24377 and subsection (1) of Reg.
					 24377(a). Such election shall be effective only for the income year for which
					 the deduction is claimed.
(2)
					 Revocation. Once the election is made for any income year such election may not
					 be revoked without the consent of the Franchise Tax Board. Such requests for
					 consent shall be in writing and signed by the taxpayer or its authorized
					 representative and shall set forth--
(A) The
					 name and address of the taxpayer;
(B) The income year to which the revocation
					 of the election is to apply;
(C)
					 The amount of expenditures paid or incurred during the income year or portions
					 thereof (where applicable), previously taken as a deduction on the return in
					 respect of which the revocation of the election is to be applicable;
					 and
(D) The reasons for the request
					 to revoke the election.
California Code of Regulations › Title 18 - Public Revenues › Division 3 - Franchise Tax Board › Chapter 3.5 - Bank and Corporation Tax › Subchapter 7 - Net Income › Article 2 - Special Deductions › Section 24401 - Allowance of Special Deductions. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1.
						Repealer filed 9-3-82; effective thirtieth day thereafter (Register 82, No.
						37).
Note: Authority cited and Reference: Section
						  26422,
						  Revenue and Taxation Code.
California Code of Regulations › Title 18 - Public Revenues › Division 3 - Franchise Tax Board › Chapter 3.5 - Bank and Corporation Tax › Subchapter 7 - Net Income › Article 2 - Special Deductions › Section 24402 - Dividends, Extent Deductible

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Taxpayers are permitted a deduction, under Section
						24402, for dividends received
						which were declared from income included in the measure of the tax of the
						declaring corporation under this part.
EXAMPLE (1).
The A Corporation receives dividends from B Corporation,
						whose entire income is also subject to tax under this part and has no other
						earnings not taxable under this part. A is allowed a deduction for all such
						dividends received from B.
EXAMPLE (2).
The A Corporation receives dividends from B Corporation,
						which is not subject to tax in California. None of the dividends received from
						B are deductible.
EXAMPLE (3).
The A Corporation receives dividends from B Corporation,
						whose income is subject to allocation because its activities are carried on
						within and without the State. B's allocation percentage is 50 percent. The
						percentage of the dividends received by A which are deductible is determined by
						formula. The variance from 50 percent will be affected by the extent of
						nonunitary and nontaxable income.
California Code of Regulations › Title 18 - Public Revenues › Division 3 - Franchise Tax Board › Chapter 3.5 - Bank and Corporation Tax › Subchapter 7 - Net Income › Article 2 - Special Deductions › Section 24404 - Cooperative Associations

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Cooperative associations are not exempt from tax under
						this part, but are permitted a deduction for all income arising from business
						done for or with members, and for or with nonmembers when done on a nonprofit
						basis.
Thus, all cooperatives are subject to tax on or measured
						by income derived from business done with nonmembers on a profit basis but not
						less than the minimum tax. It is immaterial that the income derived from
						nonmember business is incidental to the primary activity of the
						taxpayer.
For special deductions allowed farmer's cooperative
						associations, see Legal Ruling 389 (CCH Paragraph 205-320; P-H Paragraph
						13,640).
1.
						Renumbering and amendment of Section
						24404-24405 to Section
						24404 filed 9-3-82; effective
						thirtieth day thereafter (Register 82, No. 37).
Note: Authority cited: Section
						  26422,
						  Revenue and Taxation Code. Reference: Section
						  24504,
						  Revenue and Taxation Code.
California Code of Regulations › Title 18 - Public Revenues › Division 3 - Franchise Tax Board › Chapter 3.5 - Bank and Corporation Tax › Subchapter 7 - Net Income › Article 2 - Special Deductions › Section 24405 - Cooperative or Mutual Associations Not Principally Engaged in Selling Tangible Personal Property

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Effective September 7, 1955, cooperative or mutual
						associations are not permitted a deduction under Section
						24405 if their income is
						principally derived from the sale in the regular course of business of tangible
						personal property other than agricultural products. Thus, if a cooperative or
						mutual association is organized and operated for the purpose of selling to its
						members furniture, household appliances, ice, or other similar products none of
						its income may be deducted under this section. Water sold for domestic purposes
						is tangible personal property, but if used for irrigation purposes it is not
						such property. Therefore, if the primary purpose of a mutual water company is
						to furnish water to its members for domestic purposes no deduction for income
						derived from such sales is allowed under Section
						24404. However, if the primary
						purpose of a mutual water company is to furnish water for irrigation purposes
						and incidental income is derived from furnishing water for domestic purposes to
						members the income derived from such incidental sales may be deducted.
						Effective for income years beginning after December 31, 1956, regardless of the
						purpose for which it is used, water is not considered as being tangible
						personal property.
For the purpose of Section
						24404 electricity is not tangible
						personal property.
1. New
						section filed 9-3-82; effective thirtieth day thereafter (Register 82, No. 37).
						For prior history of former Section
						24404-24405, see Register 71, No.
						2.
Note: Authority cited: Section
						  26422,
						  Revenue and Taxation Code. Reference: Section
						  24505,
						  Revenue and Taxation Code.
California Code of Regulations › Title 18 - Public Revenues › Division 3 - Franchise Tax Board › Chapter 3.5 - Bank and Corporation Tax › Subchapter 7 - Net Income › Article 2 - Special Deductions › Section 24411 - Deduction for Certain Dividends

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) Allowance of deduction. Revenue and
					 Taxation Code section
					 24411,
					 allows taxpayers that have elected to compute their income derived from or
					 attributable to sources within California pursuant to Article 1.5 of Chapter 17
					 of the Corporation Tax Law a deduction with respect to qualifying dividends. In
					 general, the deduction is an amount equal to 75 percent of such qualifying
					 dividends. However, a deduction in an amount equal to 100 percent is allowed
					 with respect to such qualifying dividends derived from specified construction
					 projects.
(b) Definitions.
(1) Qualifying dividends.
(A) "Qualifying dividends" are those
					 dividends received by any member of the water's-edge group from a corporation,
					 the average of whose property, payroll and sales factors within the United
					 States is less than 20 percent and of which more than 50 percent of the total
					 combined voting power of all classes of stock entitled to vote is owned
					 directly or indirectly by the water's-edge group at the time the dividend is
					 received. The dividend payor need not be in a unitary relationship with the
					 recipient of the dividend or any other member of the water's-edge group. A
					 dividend received from a member of the water's-edge group may be a qualifying
					 dividend when it is treated as being paid out of earnings which were not
					 included in a combined report with those of the recipient. Qualifying dividends
					 shall be classified as business or nonbusiness income pursuant to the rules
					 established in regulations adopted pursuant to Part 11 of the Revenue and
					 Taxation Code. (See Cal. Code Regs., tit. 18, §
													25120, sub. (c), and applicable
					 administrative and judicial decisions.)
(B) For purposes of the definition of
					 "qualifying dividends" in Revenue and Taxation Code section
					 24411,
					 subdivision (a), the term "corporation" shall include banks for taxable years
					 beginning on or after January 1, 1998.
(C) Qualifying dividends do not include
					 amounts deemed to be dividends pursuant to Internal Revenue Code sections
					 78,
					 951 et seq., and 1248, or
					 otherwise, unless there is a distribution, actual or constructive, or a
					 provision in the Revenue and Taxation Code requiring that a dividend be deemed
					 to have been received.
California Code of Regulations › Title 18 - Public Revenues › Division 3 - Franchise Tax Board › Chapter 3.5 - Bank and Corporation Tax › Subchapter 7 - Net Income › Article 3 - Items Not Deductible › Section 24421 - General Rule for Disallowance of Deductions. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. New
						section filed 5-5-72; effective thirtieth day thereafter (Register 72, No. 19).
						For history of Article 3, see Register 69, No. 2.
2. Repealer filed
						9-3-82; effective thirtieth day thereafter (Register 82, No.
						37).
Note: Authority cited and Reference: Section
						  26422,
						  Revenue and Taxation Code.
California Code of Regulations › Title 18 - Public Revenues › Division 3 - Franchise Tax Board › Chapter 3.5 - Bank and Corporation Tax › Subchapter 7 - Net Income › Article 3 - Items Not Deductible › Section 24422(a) - Capital Expenditures in General. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. New
						section filed 5-5-72; effective thirtieth day thereafter (Register 72, No.
						19).
2. Repealer filed 9-3-82; effective thirtieth day thereafter
						(Register 82, No. 37).
Note: Authority cited and Reference: Section
						  26422,
						  Revenue and Taxation Code.
California Code of Regulations › Title 18 - Public Revenues › Division 3 - Franchise Tax Board › Chapter 3.5 - Bank and Corporation Tax › Subchapter 7 - Net Income › Article 3 - Items Not Deductible › Section 24422(b) - Examples of Capital Expenditures. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. New
						section filed 5-5-72; effective thirtieth day thereafter (Register 72, No.
						19).
2. Repealer filed 9-3-82; effective thirtieth day thereafter
						(Register 82, No. 37).
Note: Authority cited and Reference: Section
						  26422,
						  Revenue and Taxation Code.
California Code of Regulations › Title 18 - Public Revenues › Division 3 - Franchise Tax Board › Chapter 3.5 - Bank and Corporation Tax › Subchapter 7 - Net Income › Article 3 - Items Not Deductible › Section 24422(c) - Election to Deduct or Capitalize Certain Expenditures. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. New
						section filed 5-5-72; effective thirtieth day thereafter (Register 72, No.
						19).
2. Repealer filed 9-3-82; effective thirtieth day thereafter
						(Register 82, No. 37).
Note: Authority cited and Reference: Section
						  26422,
						  Revenue and Taxation Code.
California Code of Regulations › Title 18 - Public Revenues › Division 3 - Franchise Tax Board › Chapter 3.5 - Bank and Corporation Tax › Subchapter 7 - Net Income › Article 3 - Items Not Deductible › Section 24423 - Intangible Drilling and Development Costs in the Case of Oil and Gas Wells

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
For rules relating to the option to deduct as expenses
						intangible drilling and development costs in the case of oil and gas wells, see
						Reg. 2431(d).
1. New
						section filed 12-22-69; effective thirtieth day thereafter (Register 69, No.
						52).[FN*]
This regulation is substantially the same as Section
						26 CFR
						1.263(c)-1.
Note: Authority cited: Section
						  26422,
						  Revenue and Taxation Code.
California Code of Regulations › Title 18 - Public Revenues › Division 3 - Franchise Tax Board › Chapter 3.5 - Bank and Corporation Tax › Subchapter 7 - Net Income › Article 3 - Items Not Deductible › Section 24424(a) - Premiums on Life Insurance Taken Out in a Trade or Business. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. New
						section filed 5-5-72; effective thirtieth day thereafter (Register 72, No.
						19).
2. Repealer filed 9-3-82; effective thirtieth day thereafter
						(Register 82, No. 37).
Note: Authority cited and Reference: Section
						  26422,
						  Revenue and Taxation Code.
California Code of Regulations › Title 18 - Public Revenues › Division 3 - Franchise Tax Board › Chapter 3.5 - Bank and Corporation Tax › Subchapter 7 - Net Income › Article 3 - Items Not Deductible › Section 24424(b) - Single Premium Life Insurance, Endowment, or Annuity Contracts. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. New
						section filed 5-5-72; effective thirtieth day thereafter (Register 72, No.
						19).
2. Repealer filed 9-3-82; effective thirtieth day thereafter
						(Register 82, No. 37).
Note: Authority cited and Reference: Section
						  26422,
						  Revenue and Taxation Code.
California Code of Regulations › Title 18 - Public Revenues › Division 3 - Franchise Tax Board › Chapter 3.5 - Bank and Corporation Tax › Subchapter 7 - Net Income › Article 3 - Items Not Deductible › Section 24424(c) - Other Life Insurance, Endowment, or Annuity Contracts. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. New
						section filed 5-5-72; effective thirtieth day thereafter (Register 72, No.
						19).
2. Repealer filed 9-3-82; effective thirtieth day thereafter
						(Register 82, No. 37).
Note: Authority cited and Reference: Section
						  26422,
						  Revenue and Taxation Code.
California Code of Regulations › Title 18 - Public Revenues › Division 3 - Franchise Tax Board › Chapter 3.5 - Bank and Corporation Tax › Subchapter 7 - Net Income › Article 3 - Items Not Deductible › Section 24425 - Expenses Relating to Tax-Exempt Income. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. New
						section filed 5-5-72; effective thirtieth day thereafter (Register 72, No.
						19).
2. Repealer filed 9-3-82; effective thirtieth day thereafter
						(Register 82, No. 37).
Note: Authority cited and Reference: Section
						  26422,
						  Revenue and Taxation Code.
California Code of Regulations › Title 18 - Public Revenues › Division 3 - Franchise Tax Board › Chapter 3.5 - Bank and Corporation Tax › Subchapter 7 - Net Income › Article 3 - Items Not Deductible › Section 24427 - Deductions Disallowed. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. New
						section filed 5-5-72; effective thirtieth day thereafter (Register 72, No.
						19).
2. Repealer filed 9-3-82; effective thirtieth day thereafter
						(Register 82, No. 7).
Note: Authority cited and Reference: Section
						  26422,
						  Revenue and Taxation Code.
California Code of Regulations › Title 18 - Public Revenues › Division 3 - Franchise Tax Board › Chapter 3.5 - Bank and Corporation Tax › Subchapter 7 - Net Income › Article 3 - Items Not Deductible › Section 24428 - Relationships. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. New
						section filed 5-5-72; effective thirtieth day thereafter (Register 72, No.
						19).
2. Repealer filed 9-3-82; effective thirtieth day thereafter
						(Register 82, No. 37).
Note: Authority cited and Reference: Section
						  26422,
						  Revenue and Taxation Code.
California Code of Regulations › Title 18 - Public Revenues › Division 3 - Franchise Tax Board › Chapter 3.5 - Bank and Corporation Tax › Subchapter 7 - Net Income › Article 3 - Items Not Deductible › Section 24429 - Constructive Ownership of Stock. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. New
						section filed 5-5-72; effective thirtieth day thereafter (Register 72, No.
						19).
2. Repealer filed 9-3-82; effective thirtieth day thereafter
						(Register 82, No. 37).
Note: Authority cited and Reference: Section
						  26422,
						  Revenue and Taxation Code.
California Code of Regulations › Title 18 - Public Revenues › Division 3 - Franchise Tax Board › Chapter 3.5 - Bank and Corporation Tax › Subchapter 7 - Net Income › Article 3 - Items Not Deductible › Section 24430 - Amount of Gain Where Loss Previously Disallowed. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. New
						section filed 5-5-72; effective thirtieth day thereafter (Register 72, No.
						19).
2. Repealer filed 9-3-82; effective thirtieth day thereafter
						(Register 82, No. 37).
Note: Authority cited and Reference: Section
						  26422,
						  Revenue and Taxation Code.
California Code of Regulations › Title 18 - Public Revenues › Division 3 - Franchise Tax Board › Chapter 3.5 - Bank and Corporation Tax › Subchapter 7 - Net Income › Article 3 - Items Not Deductible › Section 24431-24433(a) - Meaning and Use of Terms. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. New
						Article 3 (§
												24431-24433(a),
						24431-24433(b),
						24431-24433(c),
						24431-24433(d),
						24431-24433(e))
						filed 1-6-69; effective thirtieth day thereafter (Register 69, No.
						2).
2. Repealer filed 9-3-82; effective thirtieth day thereafter
						(Register 82, No. 37).
Note: Authority cited and Reference: Section
						  26422,
						  Revenue and Taxation Code.
California Code of Regulations › Title 18 - Public Revenues › Division 3 - Franchise Tax Board › Chapter 3.5 - Bank and Corporation Tax › Subchapter 7 - Net Income › Article 3 - Items Not Deductible › Section 24431-24433(b) - Purpose and Scope of Sections 24431, 24432 and 24433. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1.
						Repealer filed 9-3-82; effective thirtieth day thereafter (Register 82, No.
						37).
Note: Authority cited and Reference: Section
						  26422,
						  Revenue and Taxation Code.
California Code of Regulations › Title 18 - Public Revenues › Division 3 - Franchise Tax Board › Chapter 3.5 - Bank and Corporation Tax › Subchapter 7 - Net Income › Article 3 - Items Not Deductible › Section 24431-24433(c) - Instances in Which Section 24431 Disallows a Deduction or Other Allowance. Instances of Disallowance. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1.
						Repealer filed 9-3-82; effective thirtieth day thereafter (Register 82, No.
						37).
Note: Authority cited and Reference: Section
						  26422,
						  Revenue and Taxation Code.
California Code of Regulations › Title 18 - Public Revenues › Division 3 - Franchise Tax Board › Chapter 3.5 - Bank and Corporation Tax › Subchapter 7 - Net Income › Article 3 - Items Not Deductible › Section 24431-24433(d) - Power of Franchise Tax Board to Allocate Deduction or Allowance in Part. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1.
						Repealer filed 9-3-82; effective thirtieth day thereafter (Register 82, No.
						37).
Note: Authority cited and Reference: Section
						  26422,
						  Revenue and Taxation Code.
California Code of Regulations › Title 18 - Public Revenues › Division 3 - Franchise Tax Board › Chapter 3.5 - Bank and Corporation Tax › Subchapter 7 - Net Income › Article 3 - Items Not Deductible › Section 24431-24433(e) - Presumption in Case of Disproportionate Purchase Price. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1.
						Repealer filed 9-3-82; effective thirtieth day thereafter (Register 82, No.
						37).
Note: Authority cited and Reference: Section
						  26422,
						  Revenue and Taxation Code.
California Code of Regulations › Title 18 - Public Revenues › Division 3 - Franchise Tax Board › Chapter 3.5 - Bank and Corporation Tax › Subchapter 7 - Net Income › Article 3 - Items Not Deductible › Section 24436 - Illegal Activities-Denial of Deductions

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
Any taxpayer who engages in any illegal activities as
						defined in Chapters 9, 10 and 10.5 of Title IX of Part 1 of the Penal Code
						shall be denied all deductions from gross income attributable to such
						activities. Illegal activities include, but are not limited to the
						following:
(a) Conducting a lottery,
					 preparing a lottery, selling or disposing of lottery tickets, aiding the
					 conduct of a lottery, keeping a lottery office, insuring or offering to insure
					 lottery tickets, letting or permitting the use of a building or vessel for
					 lottery purposes, dealing, playing or carrying on or conducting any game of
					 faro, monte, roulette, lansquenet, rouge-et-noir, rondo, tan, fan-tan,
					 stud-horse poker, seven-and-a-half, twenty-one, hokey-pokey, or any banking or
					 percentage game, possession or maintenance of any slot or card machine,
					 contrivance, appliance or mechanical device, upon the result of action of which
					 money or other valuable thing is staked or hazarded, any card dice, or any dice
					 having more than six faces or bases each, upon the result of action of which
					 money or any other valuable thing is staked or hazarded, knowingly permitting
					 any of the above games to be played, conducted or dealt in any house owned or
					 rented by any taxpayer.
(b)
					 Pool-selling or book-making; stake-holding or registering of bets or wagers
					 upon the result of any trial or contest of skill, speed or power of man or
					 beast or permitting the use of any controlled property for any of the purposes
					 above mentioned; laying, making, offering or accepting any bet or bets upon the
					 result of a contest of skill, speed or power of endurance of man or
					 beast.
(c) Touting or attempting or
					 conspiring to commit touting.
The same rule applies in respect of any deduction
						attributable to any other business activity which is connected or associated
						with, or tends to promote or further any illegal activities. Every business
						activity which is carried on by any taxpayer, or by another under its direction
						or control, on the same premises where the illegal activities are conducted,
						tends to promote or further such illegal activities.
The same rule further applies to every business activity
						carried on by any taxpayer or by another under its direction or control, on the
						premises other than where the illegal activities are conducted and which tends
						to promote or further such illegal activities.
On and after May 3, 1951, all deductions from gross
						income attributable to such illegal activities shall be
						denied.
1.
						Renumbered from Reg. 24203 in Subchapter 3 (Register 71, No.
						2).
California Code of Regulations › Title 18 - Public Revenues › Division 3 - Franchise Tax Board › Chapter 3.5 - Bank and Corporation Tax › Subchapter 7 - Net Income › Article 3 - Items Not Deductible › Section 24465-3 - Annual Statement

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a)
					 The annual statement authorized under Revenue and Taxation Code section
					 24465,
					 subdivision (c), shall include the following information:
(1) Transferor name, California corporation
					 number (if available) and federal employer identification number
					 (FEIN).
(2) Insurer Name,
					 California corporation number (if available) and FEIN.
(3) Taxable year and date of transfer of
					 property to Insurer.
(4)
					 Description and location of property transferred to Insurer.
(5) Fair market value and adjusted basis of
					 transferred property on date of transfer.
(6) Whether the property transferred is used
					 in the active conduct of the Insurer's trade or business.
(7) Whether the Insurer disposed of, in whole
					 or in part, any transferred property during the taxable year.
(8) Whether the Insurer disposed of any
					 transferred property to a member of the transferor's combined reporting group
					 or to another Insurer in the transferor's commonly controlled group during the
					 taxable year.
(9) Whether ownership
					 of the holder of the transferred property has changed during the taxable
					 year.
(10) Taxable year and date of
					 disposition by Insurer.
(11)
					 Description, percentage and location of property disposed of.
(12) Amount realized from disposition and
					 adjusted basis of property disposed of.
(13) If shares of stock were transferred to
					 Insurer, percentage of Insurer or transferred stock (measured by relative fair
					 market value) that was subsequently transferred or disposed of.
(14) Whether Insurer or transferred entity
					 issued additional or canceled existing shares of stock during the taxable year.
					 If so, indicate number of shares outstanding before and after such issuance or
					 cancellation.
(15) Whether Insurer
					 or transferred entity issued another class of stock or type of equity
					 interest.
(16) Whether the equity
					 interest in the transferred entity became worthless.
(17) Signatures of Transferor and
					 Insurer.
(18) Any other information
					 necessary to identify the property transferred and to compute the amount of
					 gain deferred and the amount of gain to be recognized.
California Code of Regulations › Title 18 - Public Revenues › Division 3 - Franchise Tax Board › Chapter 3.5 - Bank and Corporation Tax › Subchapter 8 - Corporate Distributions and Adjustments [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. Change
				  without regulatory effect repealing subchapter 8 (articles 1 and 2, sections
				  24451-24497(d))
				  filed 9-30-97 pursuant to section
				  100, title 1, California Code of
				  Regulations (Register 97, No. 40). For prior history, see Register 79, No. 7,
				  Register 82, No. 49, Register 87, No. 15, Register 88, No. 40 and Register 97,
				  No. 35.
California Code of Regulations › Title 18 - Public Revenues › Division 3 - Franchise Tax Board › Chapter 3.5 - Bank and Corporation Tax › Subchapter 9 - Corporate Liquidations [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. Change
				  without regulatory effect repealing subchapter 9 (articles 1 and 2, sections
				  24501-24519) filed 8-12-2003
				  pursuant to section
				  100, title 1, California Code of
				  Regulations (Register 2003, No. 33). For prior history, see Register 82, No.
				  49, Register 88, No. 11 and Register 88, No. 40.
California Code of Regulations › Title 18 - Public Revenues › Division 3 - Franchise Tax Board › Chapter 3.5 - Bank and Corporation Tax › Subchapter 10 - Corporate Organizations and Reorganizations [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. Change
				  without regulatory effect repealing subchapter 10 (article 1, section
				  24561) filed 8-25-97 pursuant to
				  section 100, title 1, California Code of
				  Regulations (Register 97, No. 35).
California Code of Regulations › Title 18 - Public Revenues › Division 3 - Franchise Tax Board › Chapter 3.5 - Bank and Corporation Tax › Subchapter 11 - Insolvency Reorganizations [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. Repealer of
				  subchapter 11 (sections
				  24571-24574(a)
				  --24576-24577(c)) filed 11-30-82; operative 12-30-82 (Register 82, No.
				  49).
California Code of Regulations › Title 18 - Public Revenues › Division 3 - Franchise Tax Board › Chapter 3.5 - Bank and Corporation Tax › Subchapter 12 - Pension Plan [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. Repealer of
				  subchapter 12 (article 1, sections
				  24601-24611(a)
				  --24612) filed 11-30-82; operative 12-30-82 (Register 82 No. 49).
California Code of Regulations › Title 18 - Public Revenues › Division 3 - Franchise Tax Board › Chapter 3.5 - Bank and Corporation Tax › Subchapter 13 - Accounting Periods and Methods of Accounting › Article 1 - Accounting Periods › Section 24631(a) - Period for Computation of Net Income. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. New
						Group 13, Article 1 (§
												24631(a),
						24631(b) and
						24636) filed 3-31-70; effective
						thirtieth day thereafter (Register 70, No. 14).
2. Repealer filed
						11-30-82; effective thirtieth day thereafter (Register 82, No.
						49).
Note: Authority cited and Reference: Section
						  26422,
						  Revenue and Taxation Code.
California Code of Regulations › Title 18 - Public Revenues › Division 3 - Franchise Tax Board › Chapter 3.5 - Bank and Corporation Tax › Subchapter 13 - Accounting Periods and Methods of Accounting › Article 1 - Accounting Periods › Section 24631(b) - Election of Year Consisting of 52-53 Weeks. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. New
						section filed 3-31-70; effective thirtieth day thereafter (Register 70, No.
						14).
2. Repealer filed 11-30-82; effective thirtieth day thereafter
						(Register 82, No. 49).
Note: Authority cited and Reference: Section
						  26422,
						  Revenue and Taxation Code.
California Code of Regulations › Title 18 - Public Revenues › Division 3 - Franchise Tax Board › Chapter 3.5 - Bank and Corporation Tax › Subchapter 13 - Accounting Periods and Methods of Accounting › Article 2 - Methods of Accounting [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. Change
					 without regulatory effect repealing article 2 (section
					 24651) pursuant to section
					 100, title 1, California Code of
					 Regulations (Register 87 No. 15).
California Code of Regulations › Title 18 - Public Revenues › Division 3 - Franchise Tax Board › Chapter 3.5 - Bank and Corporation Tax › Subchapter 13 - Accounting Periods and Methods of Accounting › Article 3 - Year of Inclusion › Section 24661(a) - General Rule for Income Year of Inclusion. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. New
						Article 3 (§
												24661(a),
						24661(b),
						24661(c),
						24661(d),
						24674,
						24676(a),
						24676(b),
						24676(c),
						24676(d),
						24676(e),
						24676(f)) filed
						3-31-70; effective thirtieth day thereafter (Register 70, No.
						14).
2. Repealer filed 2-21-79; effective thirtieth day thereafter
						(Register 79, No. 7).
Note: Authority cited for Article 3: Section
						  26422,
						  Revenue and Taxation Code.
California Code of Regulations › Title 18 - Public Revenues › Division 3 - Franchise Tax Board › Chapter 3.5 - Bank and Corporation Tax › Subchapter 13 - Accounting Periods and Methods of Accounting › Article 3 - Year of Inclusion › Section 24661(b) - Constructive Receipt of Income. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1.
						Repealer filed 2-21-79; effective thirtieth day thereafter (Register 79, No.
						7).
Note: Authority cited: Section
						  26422,
						  Revenue and Taxation Code.
California Code of Regulations › Title 18 - Public Revenues › Division 3 - Franchise Tax Board › Chapter 3.5 - Bank and Corporation Tax › Subchapter 13 - Accounting Periods and Methods of Accounting › Article 3 - Year of Inclusion › Section 24661(c) - Long-Term Contracts. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1.
						Repealer filed 2-21-79; effective thirtieth day thereafter (Register 79, No.
						7).
Note: Authority cited: Section
						  26422,
						  Revenue and Taxation Code.
California Code of Regulations › Title 18 - Public Revenues › Division 3 - Franchise Tax Board › Chapter 3.5 - Bank and Corporation Tax › Subchapter 13 - Accounting Periods and Methods of Accounting › Article 3 - Year of Inclusion › Section 24661(d) - Accounting for Redemption of Trading Stamps and Coupons. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1.
						Repealer filed 2-21-79; effective thirtieth day thereafter (Register 79, No.
						7).
Note: Authority cited: Section
						  26422,
						  Revenue and Taxation Code.
California Code of Regulations › Title 18 - Public Revenues › Division 3 - Franchise Tax Board › Chapter 3.5 - Bank and Corporation Tax › Subchapter 13 - Accounting Periods and Methods of Accounting › Article 3 - Year of Inclusion › Section 24667-24673.5(a) - Installment Method of Reporting Income. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. New
						Section filed 7-13-73; effective thirtieth day thereafter (Register 73, No.
						28).
2. Change without regulatory effect repealing Section
						24667-24673.5(a) pursuant to
						Section 100, Title 1, California Code of
						Regulations filed 12-8-89 (Register 90, No. 3).
Note: Authority cited: Section
						  26422,
						  Revenue and Taxation Code. Reference: Sections
						  24667,
						  24668,
						  24669,
						  24670,
						  24673.2
						  and
						  24673.5,
						  Revenue and Taxation Code.
California Code of Regulations › Title 18 - Public Revenues › Division 3 - Franchise Tax Board › Chapter 3.5 - Bank and Corporation Tax › Subchapter 13 - Accounting Periods and Methods of Accounting › Article 3 - Year of Inclusion › Section 24667-24673.5(b) - Special Rules Applicable to Dealers in Personal Property. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. New
						section filed 7-13-73; effective thirtieth day thereafter (Register 73, No.
						28).
2. Change without regulatory effect repealing Section
						24667-24673.5(b)pursuant to
						Section 100, Title 1, California Code of
						Regulations (Register 90, No. 3).
Note: Authority cited: Section
						  26422,
						  Revenue and Taxation Code.
California Code of Regulations › Title 18 - Public Revenues › Division 3 - Franchise Tax Board › Chapter 3.5 - Bank and Corporation Tax › Subchapter 13 - Accounting Periods and Methods of Accounting › Article 3 - Year of Inclusion › Section 24667-24673.5(c) - Special Rules Applicable to Casual Sales or Casual Dispositions of Personal Property. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. Change
						without regulatory effect repealing Sections
						24667-24673.5(c) pursuant to
						Section 100, Title 1, California Code of
						Regulations filed 12-8-89 (Register 90, No. 3).
Note: Authority cited: Section
						  26422,
						  Revenue and Taxation Code.
California Code of Regulations › Title 18 - Public Revenues › Division 3 - Franchise Tax Board › Chapter 3.5 - Bank and Corporation Tax › Subchapter 13 - Accounting Periods and Methods of Accounting › Article 3 - Year of Inclusion › Section 24667-24673.5(d) - Sale of Real Property Involving Deferred Periodic Payments. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. New
						section filed 7-13-73; effective thirtieth day thereafter (Register73, No.
						28).
2. Change without regulatory effect repealing Section
						24667-24673.5(d) pursuant to
						Section 100, Title 1, California Code of
						Regulations (Register 90, No. 3).
Note: Authority cited: Section
						  26422,
						  Revenue and Taxation Code. Reference: Sections
						  24667,
						  24668,
						  24669,
						  24670,
						  24673
						  and
						  24673.5,
						  Revenue and Taxation Code.
California Code of Regulations › Title 18 - Public Revenues › Division 3 - Franchise Tax Board › Chapter 3.5 - Bank and Corporation Tax › Subchapter 13 - Accounting Periods and Methods of Accounting › Article 3 - Year of Inclusion › Section 24667-24673.5(f) - Deferred Payment Sale of Real Property Not on Installment Method. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. New
						section filed 7-13-73; effective thirtieth day thereafter (Register73, No.
						28).
2. Change without regulatory effect repealing Section
						24667-24673.5(d) pursuant to
						Section 100, Title 1, California Code of
						Regulations (Register 90, No. 3).
Note: Authority cited: Section
						  26422,
						  Revenue and Taxation Code. Reference: Sections
						  24667,
						  24668,
						  24669,
						  24670,
						  24673
						  and
						  24673.5,
						  Revenue and Taxation Code.
California Code of Regulations › Title 18 - Public Revenues › Division 3 - Franchise Tax Board › Chapter 3.5 - Bank and Corporation Tax › Subchapter 13 - Accounting Periods and Methods of Accounting › Article 3 - Year of Inclusion › Section 24667-24673.5(h) - Requirements for Adoption of or Change to Installment Method. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. New
						section filed 7-13-73; effective thirtieth day thereafter (Register 73, No.
						28).
2. Change without regulatory effect repealing Section
						24667-24673.5(h) pursuant to
						Section 100, Title 1, California Code of
						Regulations filed 12-8-89 (Register 90, No.
						3).
California Code of Regulations › Title 18 - Public Revenues › Division 3 - Franchise Tax Board › Chapter 3.5 - Bank and Corporation Tax › Subchapter 13 - Accounting Periods and Methods of Accounting › Article 3 - Year of Inclusion › Section 24676(a) - Treatment of Prepaid Subscription Income. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. Change
						without regulatory effect repealing Section
						24676(a) filed
						9-19-88 (Register 88, No. 40).
Note: Authority cited: Section
						  26422,
						  Revenue and Taxation Code. Reference: Section
						  24676,
						  Revenue and Taxation Code.
California Code of Regulations › Title 18 - Public Revenues › Division 3 - Franchise Tax Board › Chapter 3.5 - Bank and Corporation Tax › Subchapter 13 - Accounting Periods and Methods of Accounting › Article 3 - Year of Inclusion › Section 24676(b) - Scope of Election Under Section 24676. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. Change
						without regulatory effect repealing Section
						24676(b) filed
						9-19-88 (Register 88, No. 40).
Note: Authority cited: Section
						  26422,
						  Revenue and Taxation Code. Reference: Section
						  24676,
						  Revenue and Taxation Code.
California Code of Regulations › Title 18 - Public Revenues › Division 3 - Franchise Tax Board › Chapter 3.5 - Bank and Corporation Tax › Subchapter 13 - Accounting Periods and Methods of Accounting › Article 3 - Year of Inclusion › Section 24676(c) - Method of Allocation. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. Change
						without regulatory effect repealing Section
						24676(c) filed
						9-19-88 (Register 88, No. 40).
Note: Authority cited: Section
						  26422,
						  Revenue and Taxation Code. Reference: Section
						  24676,
						  Revenue and Taxation Code.
California Code of Regulations › Title 18 - Public Revenues › Division 3 - Franchise Tax Board › Chapter 3.5 - Bank and Corporation Tax › Subchapter 13 - Accounting Periods and Methods of Accounting › Article 3 - Year of Inclusion › Section 24676(d) - Cessation of Taxpayer's Liability. [Repealed]

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
1. Change
						without regulatory effect repealing Section
						24676(d) filed
						9-19-88 (Register 88, No. 40).
Note: Authority cited: Section
						  26422,
						  Revenue and Taxation Code. Reference: Section
						  24676,
						  Revenue and Taxation Code.