California Statutes
§ 17681. — 17681. (Amended by Stats. 2024, Ch. 34, Sec. 24.)
California·Code RTC Revenue and Taxation Code - RTC·Div. 2. DIVISION 2. OTHER TAXES·Part 10. PART 10. PERSONAL INCOME TAX·Ch. 8. CHAPTER 8. Natural Resources
(a)Subchapter I of Chapter 1 of Subtitle A of the Internal Revenue Code, relating to natural resources, shall apply, except as otherwise provided.
(b)For taxable years beginning on or after January 1, 2024, Section 613(b)(2)(B) of the Internal Revenue Code, in the case of oil shale, shall not apply.
(c)For taxable years beginning on or after January 1, 2024, Section 613(b)(4) of the Internal Revenue Code, relating to 10 percent, in the case of coal, shall not apply.
(d)For taxable years beginning on or after January 1, 2024, Section 613A of the Internal Revenue Code, relating to limitations on percentage depletion in the case of oil and gas wells, shall not apply.
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California § 17681. (17681. (Amended by Stats. 2024, Ch. 34, Sec. 24.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Amended by Stats. 2024, Ch. 34, Sec. 24. (SB 167) Effective June 27, 2024.