California Revenue and Taxation Code

§ 23802

RTC § 23802 Effective Jan 1, 2019Div. 2 · Part 11 · Ch. 4.5

Statute text

(a)Section 1363(a) of the Internal Revenue Code, relating to the taxability of an “S” corporation does not apply.

(b)Corporations that are “S” corporations under this chapter shall continue to be subject to the taxes imposed under Chapter 2 (commencing with Section 23101) and Chapter 3 (commencing with Section 23501), except as follows:

(1)The tax imposed under Section 23151 or 23501 shall be imposed at a rate of 112 percent rather than the rate specified in those sections.

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Legislative history

Amended by Stats. 2018, Ch. 92, Sec. 199. (SB 1289) Effective January 1, 2019.