California Revenue and Taxation Code

§ 24916

RTC § 24916 Effective Jan 1, 2001Div. 2 · Part 11 · Ch. 15 · Art. 2

Statute text

Proper adjustment with regard to the property shall in all cases be made as follows:

(a)For expenditures, receipts, losses, or other items properly chargeable to capital account. However, no adjustment shall be made for any of the following:

(1)Sales or use tax paid or incurred in connection with the acquisition of property for which a tax credit is claimed pursuant to Section 23612.2.

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Legislative history

Amended by Stats. 2000, Ch. 862, Sec. 200. Effective January 1, 2001.