California Revenue and Taxation Code

§ 23707

RTC § 23707 Effective Jul 28, 1983Div. 2 · Part 11 · Ch. 4 · Art. 1

Statute text

(a)Except as provided in subdivision (b), the status of any organization as a private foundation shall be terminated only if—

(1)Such organization notifies the Franchise Tax Board (at such time and in such manner as the Franchise Tax Board may by regulations prescribe) of its intent to accomplish such termination, or

(2)Such organization has been terminated by the Attorney General of this state or by action taken pursuant to Section 507 of the Internal Revenue Code.

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Legislative history

Amended by Stats. 1983, Ch. 488, Sec. 94. Effective July 28, 1983.