California Revenue and Taxation Code

§ 18622.5

RTC § 18622.5 Effective Oct 1, 2025Div. 2 · Part 10.2 · Ch. 2 · Art. 3

Statute text

(a)Notwithstanding Section 18622, if any item required to be shown on a federal partnership return, including any partnership-related item, is changed or corrected by the Commissioner of Internal Revenue or other officer of the United States or other competent authority, and the partnership is issued an adjustment under Section 6225 of the Internal Revenue Code or makes a federal election for alternative payment with the Internal Revenue Service as part of a Partnership Level Audit, the partnership shall report each change or correction to the Franchise Tax Board for the reviewed year within six months after the date of each final federal determination. The report of adjustments or return reporting the adjustments shall be sufficiently detailed to allow computation of the California tax change resulting from the federal adjustment and shall be reported in the form and manner as prescribed by the Franchise Tax Board.

(b)For purposes of this section the following terms have the following meanings:

(1)“Administrative adjustment request” means an administrative adjustment request filed by a partnership under Section 6227 of the Internal Revenue Code.

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Legislative history

Amended by Stats. 2025, Ch. 231, Sec. 64. (SB 711) Effective October 1, 2025.