California Revenue and Taxation Code

§ 24654

RTC § 24654 Effective Jul 1, 2019Div. 2 · Part 11 · Ch. 13 · Art. 2

Statute text

(a)Section 448 of the Internal Revenue Code, relating to limitation on use of cash method of accounting, shall apply, except as otherwise provided.

(b)For purposes of applying Section 448 of the Internal Revenue Code, Sections 801(d)(2), 801(d)(3), and 801(d)(5) of the Tax Reform Act of 1986 (Public Law 99-514), as modified by Section 1008(a) of Public Law 100-647, shall apply to each taxable year beginning on or after January 1, 1987.

(c)(1) For taxable years beginning on or after January 1, 2019, the amendments made by Section 13102(a) of the Tax Cuts and Jobs Act (Public Law 115-97) to Section 448 of the Internal Revenue Code, relating to limitation on use of cash method of accounting, shall apply, except as otherwise provided.

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Legislative history

Amended by Stats. 2019, Ch. 39, Sec. 31. (AB 91) Effective July 1, 2019.