California Revenue and Taxation Code

§ 17077

RTC § 17077 Effective Jan 1, 2017Div. 2 · Part 10 · Ch. 3 · Art. 1

Statute text

Section 68 of the Internal Revenue Code, relating to overall limitation on itemized deductions, shall apply, except as otherwise provided.

(a)“Six percent” shall be substituted for “3 percent” in Section 68(a)(1) of the Internal Revenue Code.

(b)Section 68(b)(1) of the Internal Revenue Code shall not apply and in lieu thereof the term “applicable amount” in each place it appears in Section 68(a) of the Internal Revenue Code means one hundred thousand dollars ($100,000) in the case of a single individual, or a spouse filing a separate return, one hundred fifty thousand dollars ($150,000) in the case of a head of household, and two hundred thousand dollars ($200,000) in the case of a surviving spouse, or spouses filing a joint return.

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Legislative history

Amended by Stats. 2016, Ch. 50, Sec. 100. (SB 1005) Effective January 1, 2017.