California Revenue and Taxation Code

§ 23361

RTC § 23361 Effective Jan 1, 2001Div. 2 · Part 11 · Ch. 2 · Art. 9

Statute text

“Affiliated group” means one or more chains of corporations connected through stock ownership with a common parent corporation if during the period when the income was accrued or realized and on the 16th day of the first month after the close of the taxable year—

(a)At least 80 percent of the stock of each of the corporations, except the common parent corporation, is owned directly by one or more of the other corporations; and

(b)The common parent corporation owns directly at least 80 percent of the stock of at least one of the other corporations; and

…

Legislative history

Amended by Stats. 2000, Ch. 862, Sec. 62. Effective January 1, 2001.