California Revenue and Taxation Code

§ 18648

RTC § 18648 Effective Oct 7, 2005Div. 2 · Part 10.2 · Ch. 2 · Art. 4

Statute text

(a)Section 6112 of the Internal Revenue Code, relating to material advisors of reportable transactions that must keep lists of advisees, applies except as otherwise provided.

(b)Section 6112 of the Internal Revenue Code is modified by substituting the phrase “Secretary or the Franchise Tax Board” for the word “Secretary” each place it appears.

(c)The requirement to maintain lists under this section shall apply to any material advisor, as defined in Section 6111 of the Internal Revenue Code, with respect to any reportable transaction, as defined in Section 6707A(c) of the Internal Revenue Code and regardless of whether a return is required to be filed under Section 18628 with respect to that reportable transaction and with respect to a material advisor that satisfies any of the following conditions:

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Legislative history

Amended by Stats. 2005, Ch. 691, Sec. 43.5. Effective October 7, 2005.