California Revenue and Taxation Code
§ 203
RTC § 203 Effective Sep 18, 1998Div. 1 · Part 2 · Ch. 1 · Art. 1
Statute text
View on leginfo.ca.gov(a)The college exemption is as specified in subdivision (e) of Section 3 and Section 5 of Article XIII of the California Constitution.
(b)An educational institution of collegiate grade is an institution incorporated as a college or seminary of learning that requires for regular admission the completion of a four-year high school course or its equivalent, and confers upon its graduates at least one academic or professional degree, based on a course of at least one year in flight test technology or flight test science, for which the master’s degree program has been approved by the California Council for Private Postsecondary and Vocational Education or the Bureau for Private Postsecondary and Vocational Education, on a course of at least two years in liberal arts and sciences, or on a course of at least three years in professional studies, such as law, theology, education, medicine, dentistry, engineering, veterinary medicine, pharmacy, architecture, fine arts, commerce, or journalism.
(c)An educational institution of collegiate grade is not conducted for profit when it is conducted exclusively for scientific or educational purposes and no part of its net income inures to the benefit of any private person.
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Legislative history
Amended by Stats. 1998, Ch. 562, Sec. 1. Effective September 18, 1998.