California Revenue and Taxation Code

§ 24676

RTC § 24676 Effective Jan 1, 2001Div. 2 · Part 11 · Ch. 13 · Art. 3

Statute text

(a)Prepaid subscription income to which this section applies shall be included in gross income for the taxable years during which the liability described in subsection (d)(2) exists.

(b)In the case of any prepaid subscription income to which this section applies—

(1)If the liability described in subsection (d)(2) ends, then so much of such income as was not includable in gross income under subsection (a) for preceding taxable years shall be included in gross income for the taxable year in which the liability ends.

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Legislative history

Amended by Stats. 2000, Ch. 862, Sec. 186. Effective January 1, 2001.