California Revenue and Taxation Code

§ 24357

RTC § 24357 Effective Oct 1, 2025Div. 2 · Part 11 · Ch. 7 · Art. 1

Statute text

(a)There shall be allowed as a deduction any charitable contribution, as defined in Section 24359, the payment of which is made within the taxable year. A charitable contribution shall be allowable as a deduction only if verified under regulations prescribed by the Franchise Tax Board.

(b)(1) In the case of a corporation reporting its income on the accrual basis, the corporation may elect to treat the contribution as paid during that taxable year if both of the following occur:

(A)The board of directors authorizes a charitable contribution during the taxable year.

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Legislative history

Amended by Stats. 2025, Ch. 231, Sec. 95. (SB 711) Effective October 1, 2025.