California Revenue and Taxation Code

§ 24343.5

RTC § 24343.5 Effective Jan 1, 2001Div. 2 · Part 11 · Ch. 7 · Art. 1

Statute text

(a)In addition to the deduction allowed by Section 24343, a deduction shall be allowed to an employer as an ordinary and necessary expense paid or incurred during the taxable year in carrying on any trade or business for those expenses involved in any of the following ridesharing arrangements:

(1)Subsidizing employees commuting in vanpools.

(2)Subsidizing employees commuting in private commuter buses or buspools.

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Legislative history

Amended by Stats. 2000, Ch. 862, Sec. 123. Effective January 1, 2001.