California Revenue and Taxation Code

§ 17551

RTC § 17551 Effective Oct 1, 2025Div. 2 · Part 10 · Ch. 6

Statute text

(a)Subchapter E of Chapter 1 of Subtitle A of the Internal Revenue Code, relating to accounting periods and methods of accounting, shall apply, except as otherwise provided.

(b)Section 444(c)(1) of the Internal Revenue Code, relating to effect of election, shall not apply.

(c)Section 451(b) of the Internal Revenue Code, relating to inclusion not later than for financial accounting purposes, shall not apply to specified credit card fees, as defined in Treasury Regulations Section 1.451-3(j)(2).

…

Legislative history

Amended by Stats. 2025, Ch. 231, Sec. 52. (SB 711) Effective October 1, 2025.