California Revenue and Taxation Code

§ 24434

RTC § 24434 Effective Jan 1, 2001Div. 2 · Part 11 · Ch. 7 · Art. 3

Statute text

(a)In the case of a taxpayer (other than a bank as defined in Section 23039) no deduction shall be allowed under Section 24347 or 24348 by reason of the worthlessness of any debt owed by a political party.

(b)(1) For purposes of subdivision (a), the term “political party” means any of the following:

(A)A political party.

…

Legislative history

Amended by Stats. 2000, Ch. 862, Sec. 166. Effective January 1, 2001.