California Revenue and Taxation Code

§ 23701r

RTC § 23701r Effective Jan 1, 2021Div. 2 · Part 11 · Ch. 4 · Art. 1

Statute text

(a)A political organization.However, a political organization shall be subject to tax under this part with respect to its “political organization taxable income” and such income shall be subject to tax as provided by Chapter 3 (commencing with Section 23501).

(b)For purposes of this section, the political organization taxable income of any organization for any taxable year is an amount equal to the excess over one hundred dollars ($100) (if any) of—

(1)The gross income for the taxable year (excluding any exempt function income), over

…

Legislative history

Amended by Stats. 2020, Ch. 59, Sec. 3. (SB 934) Effective January 1, 2021.