California § 24309.5. 24309.5. (Added by Stats. 1998, Ch. 322, Sec. 78.)

California Statutes

§ 24309.5. — 24309.5. (Added by Stats. 1998, Ch. 322, Sec. 78.)

California·Code RTC Revenue and Taxation Code - RTC·Div. 2. DIVISION 2. OTHER TAXES·Part 11. PART 11. CORPORATION TAX LAW·Ch. 6. CHAPTER 6. Gross Income·Art. 2. ARTICLE 2. Exclusions

Section 110 of the Internal Revenue Code, relating to qualified lessee construction allowances for short-term leases, shall apply, except as otherwise provided.

(a)Section 110(b) of the Internal Revenue Code is modified by substituting the phrase “(including for purposes of paragraph (2) of subdivision (e) of Section 24349)” for the phrase “(including for purposes of Section 168(i)(8)(B).”

(b)Section 110(c)(2) of the Internal Revenue Code is modified by substituting the phrase “(as determined under the rules of paragraph (3) of subdivision (e) of Section 24349)” for the phrase “(as determined under the rules of Section 168(i)(3)).”

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Section 110 of the Internal Revenue Code, relating to qualified lessee construction allowances for short-term leases, shall apply, except as otherwise provided.
(a)
Section 110(b) of the Internal Revenue Code is modified by substituting the phrase “(including for purposes of paragraph (2) of subdivision (e) of Section 24349)” for the phrase “(including for purposes of Section 168(i)(8)(B).”
(b)
Section 110(c)(2) of the Internal
Revenue Code is modified by substituting the phrase “(as determined under the rules of paragraph (3) of subdivision (e) of Section 24349)” for the phrase “(as determined under the rules of Section 168(i)(3)).”

California § 24309.5. (24309.5. (Added by Stats. 1998, Ch. 322, Sec. 78.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.