§ 24350. — 24350. (Amended by Stats. 1959, Ch. 1127.)

California § 24350.

• Jurisdiction: California
• Code RTC: Revenue 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

Text

Paragraphs (2), (3), and (4) of Section 24349(b) shall apply only in the case of property (other than intangible property) described in Section 24349(a) with a useful life of three years or more—
(a)
The construction, reconstruction, or erection of which is completed after December 31, 1958, and then only to that portion of the basis which is properly attributable to such construction, reconstruction, or erection after December 31, 1958; or
(b)
Acquired after December 31, 1958, if the original use
of such property commences with the taxpayer and commences after such date.

Legislative History

Amended by Stats. 1959, Ch. 1127.