California Revenue and Taxation Code

§ 18623

RTC § 18623 Effective Jun 16, 1993Div. 2 · Part 10.2 · Ch. 2 · Art. 3

Statute text

(a)The Franchise Tax Board is authorized to provide, with respect to any amount required to be shown on any return, form, statement, or other document required to be filed with the Franchise Tax Board, that if the amount of the item is other than a whole dollar amount, either of the following shall apply:

(1)The fractional part of a dollar shall be disregarded.

(2)The fractional part of a dollar shall be disregarded unless it amounts to one-half dollar ($0.50) or more, in which case the amount (determined without regard to the fractional part of a dollar) shall be increased by one dollar ($1).

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Legislative history

Added by Stats. 1993, Ch. 31, Sec. 26. Effective June 16, 1993. Operative January 1, 1994, by Sec. 83 of Ch. 31.