California Revenue and Taxation Code

§ 23181

RTC § 23181 Effective Jan 1, 2001Div. 2 · Part 11 · Ch. 2 · Art. 3

Statute text

(a)Except as otherwise provided herein, an annual tax is hereby imposed upon every bank doing business within the limits of this state according to or measured by its net income, upon the basis of its net income for the next preceding income year at the rate provided under Section 23186.

(b)If a bank commences to do business and ceases doing business in the same taxable year, the tax for such taxable year shall be according to or measured by its net income for such year, at the rate provided under Section 23186.

(c)With respect to a bank, other than a bank described in subdivision (b), which ceases doing business after December 31, 1972, the tax for the taxable year of cessation shall be:

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Legislative history

Amended by Stats. 2000, Ch. 862, Sec. 51. Effective January 1, 2001.