California Revenue and Taxation Code

§ 17560.5

RTC § 17560.5 Effective Oct 1, 2025Div. 2 · Part 10 · Ch. 6

Statute text

(a)Section 461(j) of the Internal Revenue Code, relating to limitation on excess farm losses of certain taxpayers, shall not apply.

(b)(1) Section 11012(a) of the Tax Cuts and Jobs Act, 2017 (Public Law 115-97), relating to limitation on excess business losses on noncorporate taxpayers, shall apply except as otherwise provided.

(2)Section 461(l)(1) of the Internal Revenue Code, relating to limitation, as amended by Section 11012(a) of the Tax Cuts and Jobs Act, 2017 (Public Law 115-97), is modified by substituting “beginning after December 31, 2018” for the phrase “beginning after December 31, 2017, and before January 1, 2026.”

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Legislative history

Amended by Stats. 2025, Ch. 231, Sec. 54. (SB 711) Effective October 1, 2025.