California § 24347. 24347. (Amended by Stats. 2000, Ch. 862, Sec. 130.)

California Statutes

§ 24347. — 24347. (Amended by Stats. 2000, Ch. 862, Sec. 130.)

California § 24347.

JurisdictionCalifornia

Code RTCRevenue and Taxation Code - RTC

Div. 2.DIVISION 2. OTHER TAXES

Part 11.PART 11. CORPORATION TAX LAW

Ch. 7.CHAPTER 7. Net Income

Art. 1.ARTICLE 1. Deductions

This text of California § 24347. (24347. (Amended by Stats. 2000, Ch. 862, Sec. 130.)) is published on Counsel Stack Legal Research, covering California primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Cal. Revenue and Taxation Code - RTC Code § 24347. (2026).

Text

For taxable years beginning on or after January 1, 1990, all of the following shall apply:

(a)Section 165 of the Internal Revenue Code, relating to losses.

(b)Section 166 of the Internal Revenue Code, relating to bad debts, except that the deduction of a savings and loan association, bank or financial corporation shall be determined under Section 24348.

(c)

(1)Section 582 of the Internal Revenue Code, relating to bad debts, losses, and gains with respect to securities held by financial institutions.

(2)Section 582(c)(2)(C) of the Internal Revenue Code, relating to limitations on foreign banks, but only to foreign corporations that have in effect for the taxable year a water’s edge election under Section 25110.

Free access — add to your briefcase to read the full text and ask questions with AI

For taxable years beginning on or after January 1, 1990, all of the following shall apply:
(a)
Section 165 of the Internal Revenue Code, relating to losses.
(b)
Section 166 of the Internal Revenue Code, relating to bad debts, except that the deduction of a savings and loan association, bank or financial corporation shall be determined under Section 24348.
(c)
(1)
Section 582 of the Internal Revenue Code, relating to bad debts, losses, and gains with respect to securities held by financial institutions.
(2)
Section 582(c)(2)(C) of the Internal Revenue Code, relating to limitations on foreign banks, but only to foreign corporations that have in effect for the taxable year a water’s edge election under Section 25110.