California Revenue and Taxation Code

§ 23224

RTC § 23224Div. 2 · Part 11 · Ch. 2 · Art. 4

Statute text

(a)Notwithstanding the provisions of Section 23222 and Section 23223, if a corporation, which has been subject to the provisions of Chapter 3 commences to do business in this state, its tax shall be computed as follows:

(1)Such corporation shall pay a tax under Chapter 3 for the whole of the year it commences to do such business;

(2)Such corporation shall, for the taxable year succeeding the year it commences to do business in this state, pay a tax under this chapter measured by its income for that taxable year;

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Legislative history

Amended by Stats. 1971, 1st Ex. Sess., Ch. 1.