California Revenue and Taxation Code

§ 23038

RTC § 23038 Effective Sep 15, 2014Div. 2 · Part 11 · Ch. 1 · Art. 2

Statute text

(a)“Corporation” includes every corporation except corporations expressly exempt from the tax by this part or the Constitution of this state.

(b)(1) For the purposes of the tax imposed under Chapter 3 (commencing with Section 23501), “corporation” also includes associations (including nonprofit associations that perform services, borrow money or own property), other than banking associations, and Massachusetts or business trusts. For the purposes of this part, a Massachusetts or business trust includes every business organization consisting essentially of an arrangement whereby property is conveyed to one, or more than one, trustee for purposes other than the mere conservation of assets, collecting and disbursing of fixed or periodic income, or the securing of an obligation. This paragraph shall apply for income or taxable years beginning before January 1, 1997.

(2)(A) For the purposes of the tax imposed under Chapter 3 (commencing with Section 23501), “corporation” also includes associations (other than banking associations but including nonprofit associations that perform services, borrow money or own property), business trusts, and other business entities classified as associations.

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Legislative history

Amended by Stats. 2014, Ch. 325, Sec. 2. (AB 1143) Effective September 15, 2014.